From where I sit I canโt help but notice the futility.
All the โtoo big to failโ banks pulling in deposits from the failing regionals is really just a game of musical chairs.
ALL the banks have an issue.
Pulling your money from svb et all and putting it into another bank is like escaping a burning building and walking calmly into another one that just caught fire.
GM fam ๐ค๐ผโ๏ธ๐๐ซ๐
About to run out the door for church but wanted to say a quick good morning.
Letโs see what bank fail by this afternoon ๐
I mentioned a week or so ago that it felt like something was about to crack. It seems like SVB might be the first canary in the coal mine going down.
In my experience - bank runs are much like cockroaches. there is always more than one and it never happens in isolation.
Gm fam ๐ค๐ผโ๏ธ๐ซ whatโs good?
- if Iโm slow to respond itโs bc im making kids choc chip pancakes and whipping up a pour over coffee.
I canโt multitask so this is sure to go sideways pretty quick. Send reinforcements ๐