FDIC Latest Levy Harms US Banks. Ok To Invest Still?
@JC888：
The headline caught my eyes (see above). After reading the news article, I don’t know whether to laugh or cry. Incompetence seems to be the common denominator amongst all the US governmental agencies that are supposed to support United States into the next century. What Happened? (** = personal thoughts) As a result of FDIC’s executive decisions to manage the 3 runaway banks - (a) Signature, (b) Silicon Valley and (c) First Republic - $16 Billion of FDIC total funds of $128.2 Billion (as of end 2022) have been used. FDIC is now trying to “re-coup” the deposit insurance fund’s drained as a result of their “hasty” and “ill-thought” actions. ** “Ill-thought” because FDIC’s actions did not bring stability to US regional banks. Deposits are still being withdrawn. The regional banks’ stock price
