Karl Frank, CFP, and Nathan Merrill discuss the banking crisis, boiling it down in 18 minutes: - What happened? - What happens next? - What does this mean for our investments? Our businesses? Our families? - Where will the next problem show up?
When Silicon Valley Bank (SVB) failed, it was dramatic. An “A” rated financial company has never disappeared with a few clicks on a cell phone–until SVB in March, 2023.
The experts discuss this fearful and precarious news and put it into perspective. Now we have more uncertainty, and more confidence, at the same time! We are more uncertain about the possible short-term paths–the range of short-term outcomes is huge–from very good to very bad. And that causes uncertainty! On the other had, with the heavy-handed and quick reaction from the Federal Government, in particular the FDIC and Federal Reserve, bank depositors have more certainty that their deposits are secure–more so than in the past.
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