Before every financial crisis, there is a concerted effort to argue that this time is different.
Silicon Valley Bank
Posted inEconomic Policy
Banks: The Weak Spot in a Strong Recovery
The larger problem is feeble and captured regulation, resulting in multiple intra–executive branch fights.
Posted inTAP
The Silver Lining in the Latest Bank Panic
Today on TAP: The run on regional bank stocks will bring tighter regulation and lower interest rates.
Posted inTAP
Bank Runs, Behemoths, and Bailouts
Today on TAP: Better regulation would head off dubious rescues that only increase bank concentration.
Posted inEconomic Policy
Fed Report on Silicon Valley Bank Confirms Its Supervision Arm Shouldn’t Exist
The supervisors knew exactly what was happening at the bank, and were institutionally incapable of acting. This isn’t an isolated incident.
Posted inTAP
The Economy Is Still Doing Well
Today on TAP: But a weakened banking system, coupled with a Fed that is hawkish on rates but kind and gentle on financial regulation, could be the economy’s undoing.
Posted inEconomic Policy
Pre-Farewell to First Republic
The zombie bank is now in a staring match with potential purchasers and regulators. Ultimately, a failure of oversight caused this mess.
Posted inMoney, Politics, and Power
How a Firm Profiting From Deposit Insurance Caps Is Lobbying to Keep Them
IntraFi, a private equity–owned company that offers the wealthy a work-around to the $250,000 limit on FDIC insurance, sees an existential threat in universal deposit guarantees.
Posted inEconomic Policy
Bank Pullback Drives More Real Estate Financing to Shadow Lenders
Regional banks have been thought to be at risk from rising vacancies and lower valuations of commercial real estate, but asset managers and other non-banks are more exposed.
Posted inEconomic Policy
Federal Reserve Independence Is the Problem
A weird, secretive, and unaccountable institution organizes our society, and nobody wants to talk about it.