From Liquidity to Insolvency, Big Government Shows How to Crash Economy
3/16/23
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from Daily Signal,
3/15/23:
We are in a looming financial crisis, even if we don’t want to see it.
Silicon Valley Bank was, according to Moody’s, worthy of an investment-grade rating as of March 8. S&P Global Ratings similarly held a high opinion of SVB. Two days later, SVB was shut down. Immediately, Moody’s dropped SVB into junk territory. So did S&P Global Ratings.
Within days, Signature Bank—with former Rep. Barney Frank, D-Mass., co-sponsor of the famed and much-ballyhooed Dodd-Frank Act, on the board—went belly up.
To understand just why throwing money at the problem with the banks won’t solve the underlying issue, we need to understand just why SVB failed in the first place.
It failed thanks to three specific factors: from 2020 to 2022…
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