I spoke again with Politico’s Sam Sutton on the chaos that is threatening our banking ecosystem.
Read the story here.
“So, with regional bank shares getting clobbered by short sellers and skittish investors, banks are asking Washington for help fighting back.
Financial institutions are pressuring SEC Chair Gary Gensler and other policymakers to crack down — and potentially issue a temporary ban — on short-selling strategies that profit when bank stocks slide. Bill Isaac, who led the FDIC under President Ronald Reagan, said, “It’s time for the SEC to jump in” and suspend the practice as bank executives clamor for relief.“