Robert ReichBanks should not be casinos.
They should not be gambling with your deposits to pump up their profits, only to be bailed out when they get into trouble.
We need to make banking boring again.
Fight Fascism@rbreich
The big problem is really that the Federal Reserve totally failed to anticipate quickly raising rates would undermine the entire USA's banking system.
The banks were lending long at low rates and funding by borrowing short.
Why didn't the Fed anticipate the damage they would do, before they excessively jacked up rates in an overreaction to very modest rates of inflation?