Here We Go Again: Troubled California Bank PacWest Craters 60% On Report It Is Seeking Buyers Or Capital Raise

Federal Reserve Chair Jerome Powell says that "the US banking system is sound and resilient."

What do you think? 🤔pic.twitter.com/qDktlpOln4

— Human Events (@HumanEvents) May 3, 2023

• Here We Go Again: Troubled California Bank PacWest Craters 60% On Report It Is Seeking Buyers Or Capital Raise
  by Tyler Durden, https://www.zerohedge.com/
  Earlier today, when Jerome Powell openly lied to the American People during the FOMC press conference stating without a hint of irony that the US banking system is “sound and resilient”…
  –
  …we balked: how could this former lawyer lie so brazenly to the American people, the narrator wondered, when in just the past few weeks we had seen over half a trillion in bank failures, making the current bank failure episode even worse than the global financial crisis?
  –
  read more.

POWELL: U.S. BANKING SYSTEM IS SOUND AND RESILIENT

Narrator: we just had over half a trillion $ in bank failures in the past month pic.twitter.com/YvhloFIGIX

— zerohedge (@zerohedge) May 3, 2023

But surely at 5.25% all shall be well https://t.co/VMZbvApokm

— zerohedge (@zerohedge) May 2, 2023

end