On today’s show we are talking about the coming financial crisis. You might be wondering how I can say that. We are not seeing more bank failures since the failure of First republic Bank.
We are seeing signs of it creeping into the news headlines. Yesterday’s Wall Street Journal has zero’d in on the looming crisis in commercial real estate and the associated credit crunch. Today the Federal Reserve is meeting, as they do every six weeks. Their interest rate announcement will be a few hours after this podcast is published.
The bank failures so far this year, while larger and more severe than the failures of 2008 have been explained away by banking regulators and Federal officials as isolated cases. These banks we are told were not well managed.
But on today’s show we are going to look at the underlying conditions that led to the failure of these institutions and see if they are isolated to those banks or not.
-------------
Host: Victor Menasce
email: podcast@victorjm.com