Rock-bottom stock prices at midsize banks are fueling concerns that depositors could get spooked, and short sellers are drawing much of the blame. But their persistence may be exposing a broader lack of confidence in the industry.
The latest case in point: The Federal Deposit Insurance Corp chose JPMorgan Chase & Co as the winning bidder in an auction to buy collapsed lender First Republic Bank
Robert F. Kennedy Jr., who decided he wants to rule in the United States, warned that “the banking collapse is the tip of an economic mega-crisis,” emphasizing that “It’s not just the banks.” He also mocked current ruler Joe Biden’s crypto mining tax proposal. “It is a mistake for the U.S. government to hobble the industry and drive innovation elsewhere,” Kennedy stressed.