“What’s wrong with the banks”

Mar 18, 2023 | Banking

And of course, as the week went on, it turned out there was more banking stuff to worry about. A Swiss Bank, Credit Suisse of all things in trouble, and apparently previously kept afloat by Middle Eastern investors; as well as two more unknown-to-us, smaller US Banks, First Republic, and Signature Bank. Credit Suisse had done some dodgy, boom-time lending, notably to David Cameron’s dodgy mate Lex Greensill. Much of the rot in the US, however, can be laid firmly at the door of D. Trump, who started to deregulate some of the regulations brought in after the financial crash fifteen years ago. You’d hope that the warning signs will be better heeded this time. But never assume. 

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