Bank failures have become “normal” recently. Can We afford another 2008-style bailout? On the surface you see branches closing, larger banks eating smaller ones and failures due to bad investment decisions. Again, that is what we see.
But what don’t we see?
Of the 4500+ banks that are FDIC insured, there is over $7 trillion in uninsured deposits. If you think it’s just the no-name institutions, you are wrong: Citibank along with JP Morgan Chase, Wells Fargo & BofA represent over half those deposits – at a little over $4 trillion. This is the same thing that was happening before the 2008 “too big to fail” bank bailouts were mandated.
Today, the debt is much higher, the U.S. is printing money at an unsustainable pace, and the government is still on a spending bender. If things get to a critical mass, can we really afford another 2008-style bailout?
Swiss America CEO Dean Heskin brings in one of the company’s heavy hitters, Mike Weiner, to take a deep dive into what’s happening, what could lead to a bank crash, how to protect yourself and how it’s all a part of the Secret War on Cash
Thank you for listening.
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