@elonmusk@unusual_whales I think much of the anger is against the process vis a vis the age issue. There was a lack of communication and education around the issue.
The #CreditSuisse rescue shows the resiliency of the global system wherein sovereigns will step in to assure the stability of the global banking system
@BillAckman I have seen this movie before... Wholeheartedly agree that the $250K guarantee is BS. Either the US stands by its banking system or not. 2-tier reliance gives SIFI (Systemically Important Financial Institution) an unfair advantage and debases non-SIFIs such as FRC, Zions, etc
@BillAckman@FDICgov@SVB_Financial Problem is FDIC has no statutory authority. However the Federal Reserve Bank can do so without intervention from federal gov or agencies. Federal Reserve has authority to buy back UST and MBS and warehouse them.
FDIC is on site with #FirstRepublic. Bank run is in full swing. #FederalReserve should buy back UST and MBS to warehouse. FDIC has no authority to rescue #svb. The Federal Reserve can do so and within its authority to do so.
https://t.co/6wSXSSoDq3 Yellen just caused contagion. The Federal Government should not touch #svb. FDIC or Treasury has no authority to bail out. Let the Federal Reserve do what is within its charter and powers. Buy back the UST and MBS and warehouse them.