the problem here. stupidity is a huge part of the problem. problem.d for that matter are just two of several major the players in the financial industry that have gone under in recent months. r in recent months. you noticing any of this? there was the bank silverglatetk more than 11 billion in assets. there was a crypto broker voyageur, a billion in assets. the crypto fund three ac 10 billion in assets block fauci and a number of others. on friday, wells fargoted. customers reported they didn t get their paychecks as expected. the bank says that was justs thm a computer glitch. we don t really know, but we rpe paying attention. what is very clear is that wewer are witnessing somethingin serious happening in , in othere sector sectors of our economy. we don t know where any of thish e is going. we re certainly praying fora the best. we don t want to see hysteria. but ifbut if you re a treasury secretary of the united states , you would be very concerned. you dbe be paying really c
ba banks in this country, wellsnkco fargo, bank of americauntry,, jp morgan, morgan stanley, collectively lost more tha nne fifty billion in market value in one day. that s quite a hiat s a ht. on the other hand , those bankss still exist. and you can t see that for bank.n valley as of this morning, silicon valley bank or svp, has gone under completely.es the that makes the second biggest bank failure in the history ofef this country and the significant sub finance, nearly half of all venture backed health care and technology companies in the unite healthcai states .ant cash it also apparently held significant cash reserves, just one of the biggestrves for cryptocurrencies, and it s now gone. federal regulators have renamed it and taken it over.ov and that means an awfu l lotf m more people lost an awful lot of money and most of that money was not insured. nhat theyno matter what they t, the fdic only guarantees bank fdicdeposits up to two hundred and fifty thousand. an