The Fed's Hidden Losses in the US Banking System

JP Morgan, the biggest bank in America, and PNC the sixth biggest. So another one bites the dust, absorbed into the two big two fail Borg. Now what's next for the rest of us? Lawrence Lapard had a great tweet laying out the hidden losses across the US banking system. He concluded that the entire system is in danger, and we could get to the Fed effectively becoming the FDIC.