There's something kind of weird about banks. They get people to deposit money, then they lend that money out, and there's all these weird ways that they operate and make money, but deposits seem to be the weak link. At some point I'd expect a bank like business to exist that just didn't take deposits, but still did all the other bank-like stuff.
like wirecard?
> One would think, as you put on the parachute before jumping out of a plane, that the Fed would have checked that raising interest rates to combat inflation would not tank lots of banks.
Well, that’s not what I would have thought but it’s refreshing to run across an optimist now and again.
I don't think it's the Fed's responsibility to make sure a private business isn't doing dumb things outside of the regulatory purview
And even if it was, they have been extremely consistent about telegraphing rising interest rates for a while now.