Why 3 US banks collapsed in 1 week: Economist Michael Hudson explains
Geopolitical Economy Report
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Silicon Valley Bank and Other Banks
The problem that Silicon Valley bank and other banks have is not that they'd made bad loans. It's not that the US government couldn't pay the bills. The market price of these good loans to solvent entities had gone down and left the bank illiquid. Well, that is what is squeezing the entire financial sector right now. They cannot let interest rates rise without making the entire economy look like Silicon Valley bank because that's the problem. By solving that problem, they've boxed themselves into a corner.
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