US Banks Have Over $620 Billion in Unrealized Losses According to FDIC:
I’ve long said that it is not the place of blogs to write about fast-moving news stories because that’s a different world from analysing them, and of course a lot of stories should be allowed to mature before being blogged – like developments in the post-C-19 medical world or the Twitter files revelations of US government attacks on free speech via private-sector groups.
But in writing about the failure of SVB (second largest bank failure in US history) and Signature Bank (third largest) the other day – GFC II – Banking Boogaloo – I find that I can’t resist writing about this developing catastrophe in real time. Credit Suisse in Switzerland is now in the firing line, months after unpublicised funds were sent their way by the Federal Reserve. And so…
According to FDIC Chairman Martin Gruenberg…
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Utopia, you are standing in it! 
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