The great bank wipeout of 2023 seems to be picking up pace. And it’s causing collateral damage in a few unexpected places.
Credit Suisse just got bailed out by the Swiss National Bank (SNB) to the tune of CHF 50 Billion. WHO IS NEXT?
For anyone who’s been active in the markets back in 2008 this is probably deja vu all over again. Over the weekend bank regulators seized Silicon Valley Bank as well as Signature Bank in New York, which represents the largest bank failure since the 2008 recession.