Bob Michele (JP Morgan's CIO) on Bloomberg this morning talking about the Fed's emergency BTFP interventions & the liquidity crisis in banks.
He also specifically mentioned Truist Bank 😬
Truist Bank has over $500 billion in assets & could be on the verge of failure along with Charles Schwab
(twitter.com)
💥 BANK COLLAPSE 💥
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If Charles Schwab has DWAC then they're gonna sell all the shares and drop the price. If they don't, you may still have knock on effects from other banks selling because they were affected by Schwab collapse.