Bank crisis isn’t over

Good morning to yet another day of the bank crisis.?Phil Rosen here — can you believe it's been almost two months since Silicon Valley Bank collapsed??

But here we are still talking about which banks could be next to fall.?

Yesterday, shares of both?Western Alliance?and?PacWest?banks saw steep sell-offs, and the former endured wild swings after the bank denied a report that it was exploring a sale.

On the day,?Western Alliance dropped as much as 62%?before cutting those losses in half by the close of Thursday trading.?

Get this — a new Gallup poll found nearly half(!) of Americans are currently?worried about the safety of their money?being stored in their banks.

Today we're looking at what some of Wall Street's top investors and commentators say has to happen to curb the banking tumult.

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1. Billionaire investor Bill Ackman?said that banks across the US will be under threat unless regulators move to insure all deposits.?

In his view, the entire regional banking sector will remain at risk until the?FDIC steps up its insurance regime.

"We are running out of time to fix this problem," Ackman said Wednesday, two days after First Republic was taken over by JPMorgan.?

The shuttered bank had disclosed?in its first-quarter earnings report that customers pulled over $100 billion of deposits in three-months.

"How many more?unnecessary bank failures?do we need to watch before the FDIC, US Treasury, and our government wake up?" Ackman said. "We need a systemwide deposit guarantee regime now."

The FDIC guarantees deposits of up to $250,000, meaning that customers who keep more than that in their accounts?won't get back any money?above that limit in the event of a collapse.

But even if the regulator did insure more money, former FDIC chair Jelena McWilliams said Thursday a move like that?would only cost banks' customers more.

"The cost will be borne by somebody," she said. "It will be the bank, and inevitably that cost will be borne by its customers. I'm just?warning lawmakers and policymakers, whatever they do, there's going to be a cost associated with that."????

Deposit insurance aside, a lot of people are blaming the Fed for this mess,?DoubleLine Capital chief Jeff Gundlach?among them.?

The famed bond investor said this week that?money's going to keep flowing out of banks?until policymakers cut interest rates and loosen up monetary policy.?

Recall that much of the weakness that ultimately toppled Silicon Valley Bank last month was caused by large losses on its bond holdings, which plummeted in value as interest rates increased with aggressive Fed tightening.?

Americans today have "absolutely no reason to keep their money in" banks, and?that trend will continue?as credit conditions remain tight, Gundlach said.

What does the future hold for US banks? Is the worst of the crisis over or is there more to come? Let us know in the comments.

In other news:

2. Bank of America detailed which retail stocks have more than 20% upside.?These names look poised to benefit from the mass closures of Bed Bath & Beyond stores, strategists said, and they could see higher market share.?Buy into these three names now.

3. A 30-year-old, part-time real estate investor pulls in $20,000 a month from Airbnb.?She explained three strategies she used to start making money on the platform in less than a year —?and how she aims to hit her long-term goal of $1 million annual revenue.

4. This contrarian investor shared two vital lessons he learned from his highly profitable association with legend Paul Tudor Jones.?Brandywine Asset Management's Mike Dever spoke about watching Jones deliver massive returns and?the lessons learned from their time together.?

5. Shopify soared 28% Thursday after it reported strong earnings and announced it sold its logistics business.?The e-commerce giant also revealed?plans to slash headcount by 20%.?

This is a condensed version of Insider’s 10 Things Before the Opening Bell newsletter. To see items 6-10, sign up here to receive the full newsletter in your inbox.

This newsletter was curated by Phil Rosen.