The truth about the silent deposit runs on the small and mid-sized banks

Both Fed Chair Powell and Treasury Secretary Yellen view the bank issues both here and in Europe (SVB, Signature Bank, First Republic, Credit Suisse, Deutsche Bank) as one-off events and not symptomatic of stress in the world’s financial system. 

The dictionary defines “obtuse” as “annoyingly insensitive or slow to understand.” We can’t think of anything more precise! The Fed and Treasury are “obtuse” when it comes to the issues in the banking system and how they occurred.

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