Tag Archives: bank failures

Banks are getting pummeled…

Well…I’m glad I don’t have any money invested in bank stocks today since their stock prices are getting pummeled with Comerica down almost 40% and the other two banks I deal with, PNC who owns my mortgage and Fifth Third, are down almost 25% in the fallout from the failure of the Silicon Valley Bank over the weekend….now I’m not sure if this will have any ramifications for me but I don’t think it will unless either one of those actually close and I have to find another bank and transfer all of my autopays to it….it appears that the only people that are going to get hurt from the failure is investors since the feds have already assured the depositors that they will be made whole after the bank is sold…and that started today so that was pretty fast…I think there was another bank that was seized Sunday and guess who they did lots of business with? Yep, with the idiot boy and now there is one less bank for him to launder money through…it will be interesting to get a clear picture of just why these banks failed but I’ll bet there were billionaires involved in the shenanigans…geez…