3 of America’s 4 largest bank failures have occurred in the past two months. This has cost FDIC’s deposit insurance fund ~$35 billion. The fund started the year with about $125 billion.
$20 billion for Silicon Valley (mainly bailing out uninsured depositors)
$2.5 billion for Signature
$13 billion for First Republic
By many measures, this it the worst year in bank failures.
Academic Researchers have found that 190 more banks with $300 billion are at risk of failure.
The ones that seem most at risk are PacWest Bancorp, Western Alliance and Zion.
3 of America’s 4 largest bank failures have occurred in the past two months.
In total, it has cost the FDIC’s deposit insurance fund ~$35 billion.
$20 billion for Silicon Valley (mainly bailing out uninsured depositors)
$2.5 billion for Signature
$13 billion for First Republic pic.twitter.com/I2leti80Kg— Heather Long (@byHeatherLong) May 1, 2023
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels.
A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts. He is open to public speaking and advising engagements.
