SVB collapse: Bank fallout shines spotlight on $620 billion hole in banking sector

SVB collapse shines spotlight on $620 billion hole in banking sector.

SVB isn't alone, as banks across the United States were sitting on $620 billion in unrealized potential losses at the end of last year ---WHICH COULD NOW BE FAR WORSE IN MARCH OF 2023 !

That shows why authorities at the Federal Reserve, the Treasury Department, and the FDIC were so eager to stave off contagion or panic spread from SVB's demise across the banking sector.

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But, no worries, President Biden carefully studied the situation over the weekend and has come up with a plan that he announced this morning: “Americans can rest assured that our banking system is safe. Your deposits are safe,” Biden said from the Roosevelt Room. “Let me also assure you we will not stop at this. We will do whatever is needed on top of all this.”

And as for me, I now have all my investments in in "short term Treasuries"
But who knows, even that may not work out: so I'm always ready to go back to my hungry days----taking tips and getting.....

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Now that KJP has explained everything so eloquently I see that we have nothing to fear. :wink:

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