In today’s episode of Regulatory Roulette, we’re reminded of the phrase “Too Big To Fail” and what it meant in the darkest days of the Global Financial Crisis.  This phrase was used to discuss the biggest and nastiest of our systemic issues as Lehman Brothers failed and AIG, Citigroup and others teetered before TARP ultimately...Read More

The Federal Reserve raised Fed Funds Rates another quarter of a point last week to a full 5% We’re including the chart this week because we believe the chart gives us some perspective on where we’ve been, where we are, and perhaps even what’s “normal”.  Believe it or not, 5% is pretty normal!!!!  But it...Read More

Years ago, a colleague/mentor shared a truth about the investment industry that few people stop to think about.  You can be a good investor, or you can be really good at the investment business…very few people are both.  In an ideal world, investment managers combine people with both skills for ultimate success, but few ever...Read More

The fallout from SVB’s collapse continues to dominate the news, and we could spend the next 3 days writing about the various pieces and parts of their demise. But frankly, CNBC will cover that with far better resources than we can, so we’ll stick to the points that we find underappreciated and give them a...Read More

It’s not often that we’re going to agree with what Jim Cramer says on CNBC, so soak this in.  The issues we have seen with SVB, Credit Suisse, Signature and even Silvergate are anti-inflationary.  These problems, though each has their own nuance, are likely to increase bank scrutiny on every new loan that is issued. ...Read More