Fed working weekends to bail out those 186 failing banks .What's happening behind those closed doors ? Obviously, they are not discussing Sports or entertainment. I hope things are getting sorted in the backend , else Big Banks BNY have to come out with a rescue package just like they did to the First Republic.
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Most money is electronic.
Money essentially isn’t printed. 99% is created out of whole cloth is much more efficient and inflationary. This administration plans to inflate out of its mess and they’re very good at it.
It is the job of the Fed to supervise the banking sector. That’s why it takes many tough steps before any bank fails. That was not the case with these 3 banks that has collapsed, but will it take measures to control the failure of other banks in the verge of collapse.
BK must be safe with those 97% uninsured deposits,if ever there is a regulatory Audit what would be BONY M's exit strategy !?
Working at the Fed on weekends is totally normal. We worked on the weekends there- a long with many other people- during the 1980's, 1990's, and 2000's. Yawn.
The fed doesn't need to print money when a bank can take in $1 and loan out $2.