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      The Banking Crisis not Over
      If you decide to read through the article, you may get this feeling you are in 2008, and you will not be far off. A lot of bad blood is in the financial system, and the bets were that interest rates would remain artificially low. Just like in the casino, the house wins and in this case, the government wins and everyone else loses.
       
      The goal is to consolidate into an even bigger too big to fail banking system, and people are already talking about eliminating smaller banks and the regional banking system. Fewer banks mean more risk, not less risk, and means even tighter control by the government over the banking system.
       
      Source Bloomberg: “At the center of First Republic’s balance sheet was a $137 billion problem that made it a particularly hard sell: a giant book of those low-interest mortgages, mixed with some others, whose value had been severely dented since the Federal Reserve started raising interest rates.”
       
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