The Fed's Warning to Borrowers

"This sucker has a great height of insolvency and it's frigging falling type of thing," he says. "He's shilling for the commercial side of the federal bank ... He's actually getting into his competitive thing instead of being a regulator" The U.S. used to be unique in having almost all deposits covered by insurance, but now we got these big quote unquote regional banks that have 60, 70% of their deposits are uninsured,. They're way past the insurance limit.