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Right - it should be a negative symbol that a former regulator with no applicable banking experience is on your board, not a positive one. 20% of the banks dep
by mikeyouse 4y ago
Right - it should be a negative symbol that a former regulator with no applicable banking experience is on your board, not a positive one. 20% of the banks deposit base was withdrawn o Friday. I'm guessing the FDIC had a much better view into the bank's health than a bunch of random commenters.
- bb88 4y agoI make no judgement about a former congressman sitting on a board raking in the checks -- it's a valid retirement strategy. But it is possible he was right. But it's also possible he's wrong, and making these claims similar to those made by Sam Bankman-Fried (woulda/shoulda/coulda) to preempt a deeper investigation. But yeah, I trust the FDIC more than I trust any member of a board on any bank.