Banks having “sound” balance sheets while losing actual boatloads of money to sub-prime lending makes me a little nervous, having lived through the year 2008 and all.
BoA and Chase are both above the limit that they have to have a decent chunk of actual non-invested cash. Trump increased the limit of when that is necessary and i haven’t heard of Biden dropping it back down. Lack of cash reserves is an important part of why a number of small-mid size banks were capable of failing.
Interesting article.
Banks having “sound” balance sheets while losing actual boatloads of money to sub-prime lending makes me a little nervous, having lived through the year 2008 and all.
BoA and Chase are both above the limit that they have to have a decent chunk of actual non-invested cash. Trump increased the limit of when that is necessary and i haven’t heard of Biden dropping it back down. Lack of cash reserves is an important part of why a number of small-mid size banks were capable of failing.