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The Systemic Importance of Small Banks
There is a real push to consolidate the banking deposits. That is very dangerous. We saw the pandemic shut down lots of small business, which really harms the resilience in the economy. It was highly, it was disaster capitalism. It was economic warfare. And now we're seeing a push to shut down or drain the small banks. The last thing you want is consolidating deposits out of healthy, capable small banks into criminal enterprises.