Banking system is on the verge of collapse. Smaller banks in smaller towns look to be in most danger, whilae bigger banks like Chase Manhattan and Welles Fargo likely will survive. “Pay attention to what they’re not showing you guy, to what they’re not telling you,” says Clayton Morris on Redacted. Here’s more from that channel.
Hold on, kids! Big banks just went down nationwide. Banks are citing temporary glitches, but the fact of the matter is — we might see more of these outages and increasing bank failures.
More customers are growing weary of the hiccups and delays, and beginning to pull out their money from accounts. Also, the banks themselves have overextended their lines of credit and deals with derivatives. All of these factors could lead to further risks and failures over the next few months, even years.
So be prepared for a bumpy patch ahead. Here’s more from ThisIsJohnWilliams.
Boom! Silicon Valley Bank is more interesting than you think. I talk tentacles! Epstein, Biden, Thiel, China and more from Amazing Polly.
Josh Sigurdson says the long, drawn-out Wells Fargo fraud scandal is nearing its end, with the banking giant getting the proverbial slap on the wrist.
Sigurdson says Wells Fargo was finally charged with creating fake accounts and loans, and fraudulently repossessing peoples’ homes, adding billions in surprise fees to their coffers dating back to 2016. Their penalty: a measly $3.7 billion! “This is a slap on the hand,” Sigurdson says. “This is the sign of a desperate bank and they’ve been desperate for some time.” Here’s his report.
Investment banking is in trouble because of our economic recession and many other factors. Here’s why banks’ investments over the years have messed up global financial markets, causing investors to pull out of the big investment banks. This is a story of finance, money and investment banking. More from Moon.
