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Market Recap:
0:00 Intro
1:00 Debt Ceiling
11:11 Pathetic Powell
19:00 FDIC: Where’s The Money?
39:36 Outro
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LEARN MORE ABOUT: Bank Failures
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More Bank Failures Coming: The FDIC Is BEGGING Big Banks For Cash!
In recent months, the global economic downturn has left many financial institutions teetering on the edge of collapse. As the effects of the COVID-19 pandemic continue to ripple through the economy, experts predict that more banks will fail in the coming months. To prepare for this impending storm, the Federal Deposit Insurance Corporation (FDIC) is appealing to big banks for much-needed financial assistance.
The FDIC’s role is to protect depositors and maintain stability in the banking sector. When a bank fails, the FDIC steps in to protect customers’ deposits up to $250,000 per account. However, the agency’s fund is finite, and an influx of bank failures could deplete its resources. To prevent such a scenario, the FDIC is actively urging big banks to contribute additional capital to strengthen its coffers.
This desperate pleas from the FDIC come as no surprise, given the grim economic climate. With businesses closing, bankruptcies rising, and loan defaults soaring, banks are facing a wave of financial troubles. The uncertainty surrounding the future of the economy has made banks wary of lending and investing, exacerbating the challenges they face.
Several indicators raise concerns about imminent bank failures. The first is the staggering number of non-performing loans – debts in which the borrower has failed to meet contractual obligations – across the banking industry. As companies struggle to stay afloat, loan defaults are becoming alarmingly commonplace. These mounting loan losses are a major threat to banks’ stability, as their assets depreciate and liquidity dwindles.
Another ominous sign is the decline in interest rates. Central banks around the world have slashed rates to stimulate economic activity and support struggling businesses. While this may provide some relief, it places immense pressure on banks’ profitability. Lower interest rates mean reduced income from lending, further squeezing banks’ profit margins.
Furthermore, the skyrocketing unemployment rate adversely impacts individuals’ ability to pay off debts, such as mortgages and auto loans. With more people facing financial difficulties, delinquencies and foreclosures are on the rise. This increase in bad loans will undoubtedly lead to more bank failures unless swift action is taken.
Realizing the imminent danger, the FDIC has turned to big banks to bolster its reserves. Although individual banks are dealing with the fallout of the economic downturn, their larger size and more diversified portfolios place them in a relatively better position. Such banks have weathered previous financial crises and have enough capital to withstand the current turmoil. The FDIC sees these banks as critical to shore up its resources and maintain stability in the industry.
Yet, persuading big banks to part with their capital during these uncertain times is no easy task. These banks are grappling with their own financial challenges, including managing distressed assets and reduced earnings forecasts. They may also be cautious about potential legal and reputational risks associated with funding the FDIC, especially if the number of bank failures escalates.
Nevertheless, the FDIC’s request for assistance is not without merit. The banking industry operates on interconnected systems, where the failure of one institution can trigger a domino effect, impacting others in its wake. By proactively strengthening the FDIC’s reserves, big banks can help mitigate this risk and stabilize the industry as a whole.
With more bank failures on the horizon, the FDIC’s efforts to secure additional capital are crucial. As the backbone of the financial system, banks play a vital role in facilitating economic growth and providing stability. By responding to the FDIC’s call for assistance, big banks can contribute to the overall health of the industry and protect customers’ deposits. The road to economic recovery may be long and arduous, but with collective effort and support, the banking sector can weather this storm and emerge stronger.
Stay tuned for tomorrow's episode
My bank/mortgage company has recently decided no new mortgages after July 31st this year …nor any loans against equity…even though my mortgage has a LTV of .80. The bank has been issuing mortgages for 70 years. Credit crunch?
They sent it all over to Ukraine!
Well, the government will inevitably run out of money, probably should start deregulating and privatizing things like the FAA sooner than later. Besides, the music industry regulates itself, so can the airlines. The only thing the federal government is obligated to provide is defense by the constitution.
First SVB, then signature bank and now first republic bank, these are all the signs of yet another 2008 market crash 2.0 , so my question is do I still save in the United States dollar or is this a good time to buy gold?
Re Jamie Demon: I’m starting to believe you don’t have to be that bright to be the aging CEO of a “Too Big To Fail” Bank.
Get a short term CD if you're interest chasing.
Our local credit union is offering 4% for a handful of months,
Don’t fight the bull market. The trend is…you know
Mav, love ya but if you think the demented resident of the Oval has the cognitive ability equal to a gnat, then I may have to unsubscribe. Xi-den is mentally deficient and has no ability to spell Cat if you spotted him the C and T.
Thanks mav
Thanks Mav
Thanks Professor Mav
Yikes, 27:23 Marxism, yep, so unfair for those who played by the rules and exercised wisdom, and then they have to pick up the tab for everyone else. And don't think it will stop there. Someday all of our investments and savings will be attacked by our own govt, confiscating our hard work to pay for others who don't deserve it at all
Dimon is a liar, crook, scum.
I read Powell the exact same way. He was squirming in his chair and acted as if he was reading a script.
Love ya big dog!
You watch and listen to Maverick; you do not want anyone else. I have not found such depth analysis and conveying the message in little time without beating around the bushes.
Still waiting on Trump to eliminate the irs here….
A default is a default on everything you don't choose what to keep or not you loss you will
All these bank crisis and recession are all the signs of 2008 market crash 2.0, so my question is do I still save in the US dollar or is it okay to move all emergency and savings to precious metals?
PACW should be done before May ends.
Just borrow money from Ukraine. No such thing as a debt ceiling. The US doesn't owe anything to anyone. It's fiscal theater.
Best thing America can do now is default. Otherwise they won't fix the problem of spending like there's no tomorrow. What's that you say? There is not going to be a tomorrow?
You act like Jerome Paul is the only person that works at the Fed lol
Don't believe anything about the conditions of banks unless it comes from Jim" Bear stearns" Cramer!!
Mavericks parents NEVER had to tell him to do his homework.
Thanx Mav. Much appreciated
Only $57 billion? So sad.
We are always, always their mark. They act like they stumbled into another stupid blunder, after blunder, after blunder. It keeps ppl going on all different directions, except for the trap. They always know the destination for which they have set course.
So why bother trading if my broker could go broke and there aint the fdic covering it
maybe it's time for the banks to raise their lending rates more and stop forgiving defaults!!
JP Morgan Chase has an options trading platform, Jaime is making money off of shorts, what is he complaining about!
Bull sh#t,Bull sh#t, I call bull Sh#t.
Jerome is the worst of the worst, gawd that guy pure existence is an insult to humanity.
Is this financial mess just a result of massive incompetence on multiple levels or is it the soft shoe shuffle to a complete planned collapse and We the people will own NOTHING AND BE HAPPY. Unless the FED prints multiple trillions the FDIC will be toothless. With 300,000,000 people owning 400,000,000 guns this could get very Fooking Crazy. Corporate America is Ruthless and would have no problem bankrupting the working class of America and laugh all the way to their offshore bank accounts.
Great video Mav!
We all know the only begging going on is from Mav, begging for a market crash with every video.
That or just pandering to the same tired narrative he's been repeating for years. Who knows.
A default will go down in history as "President Biden Defaults on Debt." The House has already passed legislation. He may not like it–guess what–the people voted the House into office to check the president.
thank you
we are in la lala land! Enjoy it as long as it last!
Come on folks, this service is only ten bucks a month, for all the knowledge and potential profits that you could make. We need to keep Maverick in the game. Please join.