First Republic’s rescue, Charlie Munger’s warning, and Brad Gerstner’s harsh words 5/1/23
The Exchange
00:00
The Fed Should Have Put Monetary Policy More in Concert With Supervisory Policy
The bad of course is the 13 billion this is a deep hole especially given that there's only about 100 billion in deposit insurance fund. The ugly to me is I think we're going to have four or five more regional banks before this is over take a hit. Jamie Diamond was asked on the call today about his views on you know whether we do see a credit crunch from thisWhether we do see further liquidity crisis additional bank failures and the like. He said those suggest some modest deposit outflows but he blames those largely on QT as opposed to a bona fide bank run.
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