Posted inEconomics

May the financial fracasos be with us

Reading Time: 5 minutes April ended on a predictable note for this uncertain year: with the fourth notable US bank collapse in 2023, after a five-day run on three institutions in March (Silvergate, Signature, and Silicon Valley Bank), and the largest since 2008. On the aptly named May Day, JPMorgan Chase acquired the assets of First Republic Bank, which […]

Posted inEconomics

Do Biden’s bank bailouts create a ‘moral hazard’?

Reading Time: 3 minutes The Biden administration is insisting its recently announced bailouts of two failed tech-focused banks—Silicon Valley (California) and Signature (New York)—is something else. But experts in previous government interventions to save failing financial institutions, notably those that crashed and burned in the infamous 2008 “Great Recession,” say that’s exactly what this is—a federal bailout. Neil Barofsky, […]

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