Another Credit Suisse Crisis: Bank Finds 'Material Weaknesses' In Its Financial Reporting
ForbesMAY 2023
The 2023 financial crisis is here, and it is not surprising that we are in this situation. Unfortunately, government officials are repeating the same mistakes of 2008 by bailing out failed banks and creating programs that will allow banks to acquire capital artificially. We are just at the beginning of a new collapse, and people’s money isn't safe in this financial environment.
While there are certainly causes for concern regarding the economy, and banking sector specifically, we are not experiencing a 2008-style collapse, and failed banks are not being bailed out. Regulators are doing their best to secure the funds of depositors while not repeating the mistakes of the past.