Wednesday, May 3, 2023

More bank failures on the way?

Hit The Kobeissi Letter at Twitter for ongoing updates. The outlook...let's just say it's not optimistic.

Conservative Playbook: Are PacWest and Western Alliance the Next 2 Dominoes to Fall?

Things weren’t supposed to move this quickly.  Just hours after First Republic was dissected, two more major banks are in very serious trouble.

Are the dominoes going to start to fall more quickly than we were anticipating?  After his bank gobbled up First Republic, Jamie Dimon told the world that “this part of the crisis is over”, and many in the corporate media believed him.
Both institutions are now highly vulnerable, and as Dick Bove has aptly noted, those that have made massive amounts of money from recent bank failures are searching for their next victim[.]
Of course PacWest and Western Alliance are not the only potential targets.

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