📈 Jerome Powell Confesses!  They Knew THIS all along...
Channel: Stock Docta' Trading
Date: 2023-03-22

#fed  #FOMC #powell #fedfundsrate #shorts 
It's not even a question of an opinion. They chose. They chose to create two classes of banks in 2008, those that are too big to fail. There are four of them, and then they created everybody else. That was the law that was passed in 2008. And so you had two classes of banks. Now you fast forward the second class of banks.

Well, they fail. Well, guess what? They're also insured 100%. I think that the charade that every bank is not completely supported is not helpful because we're sort of pretending like, oh, capitalism and oh, you have your money, you fail your money, you lose your money. And that's not true. Not true. The way it works is if you work at a bank, you can create more risk to ways, credit risk, which is what they did in a way or duration risk, which Peter just referenced here, which is you go into longer dated investments and in their case and in many cases don't hurt when you create more risk.

You're a bank CEO, millions or tens of millions of dollars a year and it lasts for three, four, five, six, seven, eight, nine, ten years at the end of that, because that is a terrible way to manage risk. When you fail, the government will bail you out. That's the global banking system.

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