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Centrist Democrat. Allergic to proofreading and the GOP.

Minnesota USA
Joined April 2010
Forecast for late November into early December 2019:
Replying to @AdamKinzinger
Bowman, having just proven himself as gullible, naive, and uninformed, will now be targeted by special interest groups looking for an easy mark to influence.
Replying to @alanfeuer
Epps attorneys can use the template of the Fox settlement with the family of Seth Rich for Hannity's non-stop smears.
Replying to @NorthmanTrader
Despite her flip-flop, most of the vulnerable small regionals are trading up in the pre-market. If the market is ignoring her, depositors will as well.
Replying to @Benzinga
Most regional banks with $2B-$10B market caps (or the most vulnerable of them) traded up in the after-hours.
Not a fan of Bill Ackman but his take on Janet Yellen and her chaotic flip-flopping management of the US Treasury is spot on. Biden should ask her to resign and appoint Sheila Bair to replace her.
Yesterday, @SecYellen made reassuring comments that led the market and depositors to believe that all deposits were now implicitly guaranteed. That coupled with a leak suggesting that @USTreasury, @FDICgov and @SecYellen were looking for a way to guarantee all deposits reassured…
Yellen is the same age as Hank Paulson (76). Paulson was 62 when he was the Treasury Sec during the GFC. I would so much rather have a 62-year-old Paulson running the show at Treasury than a flip-flopping 76-year-old Yellen who is appearing more incoherent with each passing day.
The vast majority of depositors (both retail and commercial) do not view their bank accounts as investments but rather as a prerequisite for conducting financial transactions. Yeeesh.
Replying to @biancoresearch
As improbable as it sounds, Congress might actually do something responsible. But the clock is ticking.
“There seems to be more commonality about what to do with FDIC." Sherrod Brown hopes for a consensus by next week's Senate hearing on bank failures
Replying to @GRDecter
They now have more cash than uninsured deposits. That should have been the headline of their announcement but banks as a whole are just terrible at PR.
Replying to @GordonJohnson19
Do depositors deserve the gulag?
Another in a long list of banks that make announcements with the intention of calming investors but having the exact opposite effect. Instead of painting a target on your back just stay quiet and let your 10Qs do the talking.
Replying to @NickTimiraos
Yellen's policy prescription: whack-a-mole.
Replying to @biancoresearch
It seems like Jamie Diamond is our defacto Treasury Secretary doing most of the heavy lifting on FRC while the 76-year-old Janet Yellen is MIA. Not a fan of Charlie Gasparino but his reporting on Yellen rings true.
Replying to @SimBreezay
Putting you on mute for not knowing wtf you are talking about.
If you think companies are going to be plowing through the 10Ks and 10Qs of regional and small banks before they decide to open an account you are living in another world. As said before most bank analysts who do this for a living missed this but you think small biz will. SMH
Try reading the last 10K for FRC. They literally have had 0% charge-offs on their loan book for the past several years. No other regional bank can come close to matching that. It's all about deposit outflows ($70B+).
Completely unrealistic. The vast majority of businesses (both small and large) simply do not have the skill or capacity to do risk analysis of banks. Most bank analysts that cover regional banks for a living missed this.
Yeah, let's have a system where we expect depositors to view themselves as unsecured creditors where they have to do in-depth bank analysis to see risks that even the bank examiners have been slow to recognize.
If it stops bank runs (and bank failures) there will be no funding expenditures made under the increased insurance level.
The risk of buying too many US treasuries?