50 more banks in the US could go bankrupt before US officials fix the structural problem. Such an opinion in an interview with the RIA Novosti agency expression Lawrence McDonald is the former Vice President of Lehman Brothers Financial Corporation.
“Another 50 banks could collapse before they[authorities]fix the structural problem. “Politicians will likely have to somehow impose a much larger withholding (out of deposits from their bank accounts),” said McDonald, who was in charge of debt management at Lehman Brothers at the time the bank opened. failure in 2008
The financier estimated the volume of money flowing from the accounts of American regional banks at “hundreds of billions of dollars”. According to him, these funds will go to large credit institutions, and from there to treasury bills.
Lehman Brothers was the fourth largest investment bank in the United States. The bankruptcy of this organization is considered the beginning of the global financial crisis.
Silicon Valley Bank has become the largest bankruptcy bank in the last 15 years. At the end of last week, the press service of the Federal Deposit Insurance Corporation (FDIC) reported About the destruction of the American SVB, which ranks 16th in terms of assets in the United States.