Link: https://twitter.com/WatcherGuru/status/1652102581999550466
As if we needed more reasons to stress out!
Jokes aside, what are you guys thinking about the fact that the Fed is preparing to take over FRC? They were obviously one of the banks with the highest unrealised losses after Sillicon Valley Bank so I'm not sure if other banks are in danger.
However, the banking system is way too interconnected and the dominos may start falling. I feel like we're back to ~2 months ago and investors are starting to panic again. Plus, we had this leaked conversation of J Powell. I'm very, very happy I did not buy any bank stocks despite my FOMO kicking in strongly.
Could we just end up with smaller banks taking hits and bigger banks making big bucks yet again just like they did after the initial panic 2 months ago? Are you avoiding the banking sector or jumping in to get a bargain deal? I personally don't plan on getting involved unless I see C, JPM or BAC at a good price… and even then, I'd be hesitant.
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