The Financial Crisis of 2023

The financial crisis of 2008 was really a crisis of a very, very large institutions. What you're seeing now is really confined to the regional banks. I don't know how much of a crisis at this point, but it's a crisis of banks that have very concentrated deposit basis which are way over the $250,000 limit. And they manage their interest rate, risk rate poorly by buying securities at the low end of rates.