Rest assured, America. Jen Psaki says Biden never does anything at 9AM so him giving a 3 min speech is a big deal & shows he is taking the bank failures seriously.
Is it surprising that Signature Bank failed? Their executive team spent millions of dollars to produce music videos & TV shows about themselves Try not to cringe as you watch this:
Saturated… and now the mechanism by which their primary customers were buying them (with money inadvertently derived from funds lent against tech equity) is breaking down. Save us Inflation reduction act spending!
U.S. — Sources report Tucker Carlson has obtained 40,000 hours of never-before-seen footage of President Joe Biden falling down the stairs on Air Force One.
If you thought SVB was bad ... The Fed is sitting on unrealized losses of ~$1.2 trillion on their $8.3 trillion bond portfolio. And the Fed is losing money every day by paying $$$ to commercial banks via reverse repos.
The Federal Reserve is technically bankrupt. In 2023 the Fed will post its first annual operating loss of $80 billion since 1915. It will have a negative capital of $38B. This loss does not count the $1.3 trillion unrealized loss on its portfolio. Ht u/Lapuamies