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https://www.theguardian.com/commentisfree/2023/feb/21/banks-record-profits-windfall-tax https://www.theguardian.com/commentisfree/2023/feb/21/banks-... If this

• chrisco255 3y ago
  ^ this is a very thin piece, used to push a narrative. Cherry picking 5 particular banks and their Q4 2022 fiscal results does not tell you what is happening right now. Since that article was posted in February, we've had 3 major U.S. banks fail representing $532 billion in total assets and Credit Suisse collapsed in March, with Swiss government providing $108 billion to back a purchase by UBS. The banking system is in bad shape right now, and we don't really know how many more will fail.
• j-bos 3y ago
  Maybe the commenter is refering to small-midsized banks.
• dharma1 3y ago
  If Berkshire sold out of most of their bank holdings, that should tell you something. Large banks are broadly fine for now (cough Credit Suisse cough), but there are a lot of small/midsize banks that are more vulnerable, enough to have some contagion effect. If more start failing, spooked depositors with more small/midsize banks start pulling their money out and move it to large banks - possibly collapsing more of the smaller ones. And we haven't even started seeing bad commercial real estate loans hit banks. https://www.ft.com/content/da9f8230-2eb1-49c5-b63a-f1507936d01b https://www.ft.com/content/da9f8230-2eb1-49c5-b63a-f1507936d... The next one in line could be this https://twitter.com/elerianm/status/1654073420328452096 https://twitter.com/elerianm/status/1654073420328452096