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Pacific Western Bancorp tumbling - Dow drops 600 points [1]

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Date: 2023-05-02

finance.yahoo.com/…

finance.yahoo.com/…

I’m one of these fools who thinks that if money devalues the entire system devalues so it’s kinda logical that the economy fails. So, while give loans and other things these banks took high risks and when there was no money returned they were unable to serve the creditors as well. So the domino effect is again widespreat and the possibilities to contain are minimal. Once the effect occurs, money devalues because it is not served in a proper way id est the whereabouts are unknown to the creditor and there is the necessity to get new money what mostly leads to the idea that the FED will in fact print new money. That leads again to a new wave of inflation.

Both PacWest and Western Alliance also reported drops in a key measure of profitability, a sign that the regional banking business is becoming more challenging as funding costs and interest rates rise.

edition.cnn.com/…

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[1] Url: https://www.dailykos.com/stories/2023/5/2/2167143/-Pacific-Western-Bancorp-tumbeling-Dow-drops-600-points

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