This isn't just about Silicon Valley at this point. There are banks in Texas and on the East Coast that are in trouble. Odds are there are banks all across the Midwest verging on this type of trouble. They say the big banks are ok but I have the feeling they are whistling past the graveyard on that one. I'm guessing Wells Fargo has been up to their usual hijinks and their balance sheet is like swiss cheese.
The problem with this industry as well as most and that certainly includes big pharma is that all of these fucking government regulators get promised board seats for eased regulations or looking past things and then make seven figures as soon as they retire from the government. The unraveling of society will forever be tied to human greed. It’s destiny.
Geezus, it’s like the Dunder Mifflin of banks. I’d generally bend over backward to excuse a company for the dopey things some Madison Avenue left-turn makes them do in the name of public appeal. But maybe there was.a deeper message when they were storyboarding the concept of an ethnic fruit salad running around waving white flags. .
13 years of low interest rates, two years of the fed pumping artificial money into the system, a zombie army of venture capitalists interested in dumping money into climate change small business and one big fat precedent that the government is here to save you (especially if you give us campaign money). These folks had an endless supply of money that they stopped counting it. Until they realized the gravy train was over, cashed their stocks out, gave bonuses and get to retire in Palm Springs. The big banks now get to consolidate power. A power mongers wet dream.
No more only when Barney Frank herself sez no more.....what a crusty snot bag queen..... :eatingdickemojihere: https://giphy.com/clips/old-grandma-hotdog-LnpgfjNETGmiWIecxC .
Credit Suisse apparently failing also. There's likely to be a merger with Credit Suisse bondholders getting dumped on in the process. This puts the lie to the notion that the banking crisis is rooted in American regulation and fiscal policy. Banks in China have been in trouble for more than a year now due to the commercial real estate market crashing there. The banking crisis is rooted in lax regulation worldwide and the reality that banks do not make good decisions when sorting out their financial obligations to customers vs the pressures that investors can apply.
Can we posthumously name J. Edgar Hoover one of the most influential women in the history of US government?
