The short version: it's entirely possible that this is a one off, other banks will be fortified, and the FDIC will protect the deposits. In a few weeks/months this will be just another bank failure and we all move on to the next Huge World Ending Crisis (Trademark Pending).
I had Noah’s latest post just before this one. I love his blog, but oftentimes when he gets in the weeds about economics, my little brain is in the habit of turning off. After reading your post I feel like I have an understanding of what happened. Thank you teacher!
The short version: it's entirely possible that this is a one off, other banks will be fortified, and the FDIC will protect the deposits. In a few weeks/months this will be just another bank failure and we all move on to the next Huge World Ending Crisis (Trademark Pending).
The Long Version: Please watch the Big Short
Fingers crossed.
I had Noah’s latest post just before this one. I love his blog, but oftentimes when he gets in the weeds about economics, my little brain is in the habit of turning off. After reading your post I feel like I have an understanding of what happened. Thank you teacher!
You're welcome! Noah helped me to understand (although I read a bunch of other articles too!).