Steven T. DennisMay 1, 2023
Now ~$36 billion.
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RT @steventdennis
In Desk 88, Sherrod Brown's book about progressives who sat at his desk before him, he warned Trump-era deregulation of midsized banks "will result in a much higher chance of economic disaster, meaning more exposure for taxpayers."
The banking crisis has cost FDIC ~$23B so far.
https://twitter.com/StevenTDennis/status/1652057130231291904
Steven Dennis on Twitter

“In Desk 88, Sherrod Brown's book about progressives who sat at his desk before him, he warned Trump-era deregulation of midsized banks "will result in a much higher chance of economic disaster, meaning more exposure for taxpayers." The banking crisis has cost FDIC ~$23B so far.”

Twitter
Show threadTom Bellin 

@steventdennis The premise of Republican deregulation was always that the guys running the banks were smarter than normal people. And yet those smart guys didn't anticipate interest rate hikes that the Fed telegraphed for a year.

This, of course, is a simplification. These banks knew exactly what 1-2 years of interest rate hikes was going to do to their balance sheet, but they just went ahead maximizing short-term profits bc that's what everyone else was doing.

May 1, 2023 at 1:50pmWeb