Carl Icahn has called on the Federal Reserve to keep hiking interest rates until it crushes inflation, and framed Silicon Valley Bank's failure as part of a wider problem of reckless spending and mediocre management.
Historic amounts of fiscal and monetary stimulus helped drive inflation to a 40-year high of 9.1% last June. The pace of price increases was 6% in February — still well above the Federal Reserve's 2% target. Along with inflation, Icahn bemoaned the number of bad bosses in the US, and suggested the SVB fiasco was a product of that problem.
I'm not really sure I care... I mean, I care about inflation to the point it effects the purchasing power of US citizens. But I don't really give two shits about rich bitch bank collapses. 🤷♂️ I'm covered under the FDIC, so line'em up, and let'em fall.