Yellen Convenes Emergency Financial Stability Meeting On Friday As Banking Crisis Explodes

“Capital markets stop panicking when officials start panicking” – Michael Hartnett

Here comes the panic.

Bloomberg just reported that Treasury Secretary Janet Yellen – who was singlehandedly responsible for stoking and restarting the bank crisis on Wednesday which until that day was easing back, with her comments that nobody in charge was even talking about a uniform deposit insurance, let alone working on one – will convene the heads of top US financial regulators Friday morning for a previously unscheduled meeting of the Financial Stability Oversight Council.

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Madam DeFarge
Madam DeFarge
1 year ago

Will someone please get rid of this ignorant walking catastrophe.

Michael
Michael
1 year ago

I hope this evening’s news isn’t about a bank holiday.

kal
kal
1 year ago

how convenient, on a Friday. as I posted on another article, this idiot has set fires at the front and back doors and there ain’t no windows.

strider777
strider777
1 year ago

You mean to tell us, we the ignorant little peasants, that our great, omniscient and all-powerful lords and ladies of international banking and international finance totally failed to see the great banking collapse coming? And now they must call a hastily arranged, emergency meeting in order to try and save the world from this totally unforeseen disaster? In a pig’s eye they didn’t see it coming! Hell, they planned the damned thing.

Michael
Michael
1 year ago
Reply to  strider777

“The illusion of freedom will continue as long as it’s profitable to continue the illusion. At the point where the illusion becomes too expensive to maintain, they will just take down the scenery, they will pull back the curtains, they will move the tables and chairs out of the way and you will see the brick wall at the back of the theater.”

― Frank Zappa

Or as my Uncle used to say, be kind to the sheep as they go to the slaughterhouse. They are easier to handle that way.

Might be a good time to review Grahm’s Killhouse rules.

Hound
Hound
1 year ago

The ol’ Quayle caterwaul again-“The bank runs are coming! The bank runs are coming!” Nevertheless, keeping money in the bank is a very risky endeavor and should probably be avoided at all costs.