Signature Bank Board Member Says Shutdown Was Political
One of the Dodd-Frank Act drafters, Barney Frank, said regulators shut Signature Bank down to send an anti-crypto message.
“I think that if we’d been allowed to open tomorrow, that we could’ve continued,” said Frank, who sits on Signature Bank’s board.
“I think part of what happened was that regulators wanted to send a very strong anti-crypto message,” Frank said. “We became the poster boy because there was no insolvency based on the fundamentals.” CNBC
Even the FDIC was surprised! By the DFS! They had to fudge a blanket reason of "systemic" risk - for a modest sized bank.
Execution is probably the correct word - at the altar of the BIG BANKS. Watch who ends up buying up all these "failures".
One other thing to notice is that this is largely playing out in the USA. There is a larger world out there. It really is up to each individual to take their own responsibility for their own assets - and to be flexible and nimble and know all the exits.
interesting
as I've said, the whole bankster world is one big lie - they are not prudent and not safe - they are all trying to max earnings by being borderline bankrupt.
That's borderline horrific!
So, banks are there to suck the life out of an economy.
No, no... they are the engines of economic growth, the guardians of perennial prosperity and masters of the metaworse - just don't mess with their shadows.
Too bent to ever straighten.
You also have to wonder, when the stuffed suits are found within crypto corps, what their agenda really is. It looks like shaking hands with your executioner.