tightened too much. indeed, suggests that we still have work to do. if you ever find an airline pilot said it worked with the federal reserve, get off that aircraft. the 16th largest u.s. bank chanced today and took a nervous stock market with it. the latest talk is that this might pause the federal reserve in this latest interest rate hike cycle. the betting seems to be when they gather next week, maybe no rate hike, period. neil: one year, can you believe it? a year ago today it all started. eight interest rate hikes later, the federal reserve must decide whether next week it should make it a ninth. even as credit swiss is receiving a $54 billion life line to keep it going. news hoff a $30 billion rescue for a bank, first republic. that helped stocks rebound. we re tracking it all, this incrediblier and where we stand now from main street to wall street, from the federal reserve to capitol hill to the white house as well. with rich and robert on what could be the ne
treasury purchases and the timing to sell them. so do you think there s other grenades out there that were not done with this? i d say this: dealing with interest rate risk, which is what this is about and why svb got caught is something that banks have done forever. there s been previous interest rate cycles and rates rose. banks have understood for years how to hedge that risk to protect their portfolios. this was an instance where the bank didn t do what other banks have done and what historically has been the process of banks. this is really a failure of the bank that after six months a least of rapid interest rates, they hadn t engaged in the appropriate hedging activities