“Evening News” Snowstorm Edition (March 14, 2023)

 NATION

Looming Bank Failures Point to More Price Inflation as Real Wages Fall Again

Bailouts Should Not Be the Norm

The Cover-up Begins

House Democrats Attack Messengers in ‘Politicization of Government’ Hearing

Clif High Predicts The Near Future Bitchute

A Bank Crisis Was Predictable. Was the Fed Lying or Blind?

It is poetic that Barney Frank was serving as the director of Signature Bank at the time of its capture. This emergency action from the feds signals the failure of Frank’s key legislative accomplishment, the 2010 Dodd-Frank Act. The bill designated large financial institutions as “systemically important financial institutions,” with an additional layer of regulatory scrutiny as a means to end “too big to fail.”

Instead, the bill consolidated community banks into larger regional banks and empowered financial regulators that have now proven to be blind to the underlying risks of the banks. After all, it was state bank regulators, not the feds, that raised the flag on both SVB and Signature. Meanwhile, the hyper-fragile environment of the post-2008 financial crisis has created an environment where most financial institutions are treated as too big to fail, with no one too small to bear the costs.