3/27/23: The Irony of Today's Banking Crisis
THE TRUTH ABOUT YOUR FUTURE with Ric Edelman
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The Irony of Regulators Shutting Down Banks
Wells Fargo's former head of retail banking pled guilty to obstructing a bank examination. He's going to prison and personally paying a $17 million fine. Why haven't the regulators just shut down this bank? Because quite frankly, they'd have to shut down all of them. There's $20 trillion in deposits at US banks. Half of that money is in the top 25 banks in the US. Regulators are chasing people out of regional banks simply because they've been doing business with companies that are in the crypto business.
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