Description
Fears of bank failures and market contagion are permeating the news, and some are predicting that we’re facing another Global Financial Crisis. That’s to be expected, considering that two of the three largest bank failures in US history (Silicon Valley Bank and Signature Bank) have happened in just the first two weeks of March 2023. We’ve also had yet another “unprecedented” government intervention to stabilize the banking system, including the FDIC protecting uninsured depositors at two banks and the creation of the Bank Term Funding Program. But this crisis doesn’t look anything like 2008 to us – yet.
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