Should I Be Worried About My Bank?
The regional banking turmoil hasn’t let?up.
The biggest issues? Unrealized losses on bond investments and an outflow of customer deposits are?creating a crisis of confidence, writes Bloomberg's Claire Ballentine. But also, sometimes the stock market just gets weird. My colleague Matt Levine has?a great explainer here.?
Chalk it up as a small win that there hasn’t been another bank failure since First Republic?— the?second-biggest?in US history. But since then,?stocks of smaller financial institutions have been on a?rollercoaster ride.?
Rapid plunges one day are giving way to intense rebounds the next for firms like?PacWest Bancorp,?Western Alliance and?First Horizon.?Financial pros like?Pershing Square’s Bill Ackman are?warning of systemic risks.?
One group that’s not afraid of the volatility is?retail traders. The cohort that jumped into GameStop and AMC during the pandemic is now turning their attention to regional banks as a way to make a quick profit. What could go wrong??
For everyday?people —?those?who aren’t buying call options on regional banks but have cash stored in them —?the headlines are worrisome. Sure, the FDIC insures?deposits up to $250,000. But there may still be some disruption to your?financial life if your bank goes under.
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Should I be concerned if the stock of my bank is dropping??Read the answer from Shane Sideris, managing partner at?Synchronous Wealth Advisors, in the full edition of the Bloomberg Wealth newsletter.
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1 年Bloomberg News. Beautifully said and written. Read my point of view on this specific news matter. Using as a vital example the same $250,000., the question still remains. If $250,000. are insured with (FDIC by the bank) which is great and for those whom are skeptical to invest-why not to use it as a CD with a great fix rate and with the biggest number of year to earn even more money over the $250,000. without putting in risk such capital?
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