Art Cashin, the director of floor operations at UBS, said the market is nearing a Lehman-esque event as a global banking crisis unfolds.
In the span of a week, Silicon Valley Bank and Signature Bank were seized by regulators, while Silvergate announced it was winding down operations and liquidating positions. Cashin said the"game is afoot" as certain market participants may try to"agitate things as much as possible" for their own financial gain.
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Do Not Trust The MarketPolitical Gabfest: banks keep needing bailouts and should pay more taxes No shit Rare bad take from emilybazelon on student protest. Students have shouted over speakers for as long as there have been universities. Is it possible that GenX grew up in such a milquetoast era around public protest that we think “kids today” are overreacting? i always find it hilarious to hear John (who is the stepson of Goldman Saches chairman John Whitehead) rail against big banks.
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