• First Republic Bank With Over $176 Billion in Deposits Shows Ominous Sign.
• Signature Bank Closed By Regulators.
• Feds To Guarantee All Depositors In Failed Silicon Valley Bank, Not Just Those Up To $250,000.
• Biden: Thanks T.o My Administration “The Banking System Is Safe.”

Years ago, bankers were humorous characters in films. They wore three-piece dark suits, had pot bellies, and were boringly cautious. But now they are woker than woke and focus on equity rather than interest rates. They bought 10-year treasury bonds, interest rates went up, prices went down, bank went bust. This is Economics 101, not Harvard Business School. Put a jerk in the corner office and he is still a jerk.