At the rate things are going money may go back to being physical 
Powell is a terrorist
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From the 150s few months back to zero.
Well, the only auto-pay I have left there is my Roku. Not too important. Guess I should switch it though. There’s some cash but nothing I need in the short or medium term. Too bad though. It was my only bank for 30 years. Always excellent service.
Never eat cookies from strangers, as mama told us.
The Reuters article everyone is citing:
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I think Apple offering high rate savings account will BK a lot of smaller banks. It will take a long time as initially it will be mostly younger folks who bank with Apple. If Apple ever offers checking accounts I see zero reason why people should use smaller banks.
Also will we see Amazon getting into the banking business as well? Tie it to their Prime membership like free movies and shipping if you have $1k deposit or something and it will get very popular. How about Google bank and Facebook bank as well?
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I expect cash rich mega cap techs to join in. Goodbye to regional banks.
Regional banks are often in places with older demographics. Those folk already mistrust big tech. Zero chance they would park their cash with them. They’d keep it in their safe if that were the only other alternative.
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I agree with Cramer. This likely marks the bottom of the banking crisis, especially for smaller banks.
I hate PHH not PNC
First Republic sold to JPMorgan Chase in a tax payer subsidized fire sale.
So the Number 2, 3 and 4 of the biggest bank failures in history happened in a span of 2 months. And it’s all the banks’ faults? How much damage will the Fed continue to make on our economy?
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By adjusting each failure by the change in the value of the USD, I’d say WAMU (2008) failure dwarfs any other so far. Using the Fed’s CPI calculator the 2008 WAMU’s $307b in assets / $188B in deposits as expressed in 2023’s USD value would be $440B assets / $268B deposits. WAMU’s 2008 converted to 2023 USD values for Asset/Deposit are very close to 2023’s 1st Republic AND SVB Assets/Deposits combined!
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I want to see more regional banks go kaput! Too many banks.
In the future, what I want to see are TLTF banks, and FinTech own by mega caps. Rest, bye-bye.
Regional banks can’t afford competent managers that can navigate current and future sophisticated digitalized/ AI environment.
There was a backstory saying JPM also wanted to buy SVB but JPow and Yellen torpedoed the idea because JPM was too big and they didn’t want it to get even bigger. But for FRC they gave up the objection. There is simply no other stronger buyer.
I saw somewhere before JPM swallowing FRC it has something like 16% of all deposits in this country. Maybe after the buy it will get to something like 20%. So big it’s guaranteed to never fail.
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Was my suspicion 
Keep up the good work, JPM.