Is the worst over for the bank sector? Digital bank runs and the future of banking. After SVBs collapse, regulators grapple with First Republic and a crisis in Europe.
Is the global economy facing a new Minsky moment — the sudden collapse of financial markets and economies addicted to debt and easy money? On this episode of ODEON CAPITAL CONVERSATIONS, MAT VAN ALSTYNE, ODEON co-founder and managing partner, warns that the US may be hurtling fast in this direction, the end stages of an extended phase of economic prosperity that propels investors to take on excessive risk, leading ultimately to a disaster.
Meanwhile, the US Senate held hearings this week on the failure of Silicon Valley Bank (SVB).DICK BOVE, chief financial strategist at ODEON CAPITAL GROUP, followed the hearings closely, and sees banking changes ahead from tighter lending standards to stepped-up auditing. “This [SVB collapse] is something the Federal Reserve is going to have to answer for,” BOVE says, as he reprises some of the loudest comments out of DC.
Joining the CONVERSATION, our host JOHN AIDAN BYRNE reprises some of the key developments.
Questions & Comments: Podcast@OdeonCap.com