ANOTHER BANK FAILURE: PacWest Shares Plunge, Troubled Bank Crashes

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640 billion dollars in bank failures. Another Biden success. PacWest stock plummets more than 50%, other bank stocks join in decline.

BIDEN’S ECONOMY: Silicon Valley Bank COLLAPSES Following Run on Bank, 2nd Biggest Bank Failure In United States History

PacWest Tumbles; Oil Steadies

…..following Federal Reserve interest-rate increase

By: Wall Street Journal, May 4, 2023:

Aftershocks from March’s banking turmoil rumbled on, even as the the Federal Reserve’s aggressive rate-rise campaign approaches its end.

In recent market action:

PacWest’s already battered shares fell by 45% in premarket trading. The bank said it was talking to potential partners and investors, and would keep evaluating “all options to maximize shareholder value.”

A raft of other regional lenders fell in sympathy before the opening bell: Western Alliance Bancorp slid 23%, while Comerica and Zions Bancorp fell by 9% and 10%, respectively. First Horizon sank nearly in half after its $13.4 billion sale to Toronto’s TD Bank was called off.

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Richard Meyer
Richard Meyer
10 months ago

The Titanic sank while the band played on .

Stephen Honig
Stephen Honig
10 months ago

Biden is as evil as Hitler, but only in reverse. Hitler wanted to take over the world and Biden want to destroy the country. If Biden was POTUS when Hitler was in power, we would be speaking German.

Roger GrantD
Roger Grant
10 months ago

For the first time ever, yesterday every regional bank finished red for the day on the stock exchange.

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Thanks for sharing!