2023-05-05T16:59:58-04:00May 5th, 2023|3- This Week|

Weekend Warriors

As we finalize this update, we along with everyone else focused on the financial market is back on weekend watch for large regional-bank resolutions.  What Congress does in response to the failures so far seems clear, but changing events could redefine our current view that no substantive legislation will address anything about recent failures other than give the FDIC additional clawback authority along the lines discussed at last week’s Senate Banking hearing.  And even that isn’t clear given the breadth of Sen. Warren’s bill (see FSM Report COMPENSATION35) and questions Republicans have about it no matter the GOP cosponsors Sen. Warren enlisted.