🙋 Polls

Which of the following best describes your current level of confidence in the US banking system?

Tuesday, May 2, 2023

Which of the following best describes your current level of confidence in the US banking system?

👍 A great deal of confidence (17%) – "Counterintuitively, these bank failures demonstrate how resilient the industry is and how effective the controls that the Fed has at its disposal for remedying a failure. We’ve learned a lot since the 2008-2009 recession and tue country’s systemically important financial institutions remain well capitalized."

↔️ Some confidence (36%) – "I trust our banking regulation to prevent meltdowns. Right now, it appears that those regulators need to knuckle down and use the preventive laws as they were intended."

  • "Pragmatically speaking, banks and bankers pretty much run all of the economies around the world. Not only is America's economy the biggest, it's intertwined with virtually every single other economy in the world. I'm certain there's going to be more cyclical turmoil before everything stabilizes once again. But to put it simply, an all-out collapse just won't be allowed. Everything will be fine, and not because "the people" deserve stability, but because those currently in control of our economy have far too much to lose if the entire system implodes."

👎 Very little/no confidence (34%) – "The banks have run around long enough. I know my money is secure thanks to the FDIC, but it is time for a rest in banking. SVB is not the only bank to do this and it is time for the government to let the banks fail. It’s going to hurt economically for a little while, but will give us the reset we all need for the better."

  • "If you consider the people running the collapsing banks are products of the system that governs the US banking industrial complex- no long term vision, driven by short term profit- why would anyone have any faith in this house of cards?"

🤷 Unsure/other (13%) – "I would need to see more historical information before being able to assess whether the US banking industry is currently in a rare crisis, or if this type of thing happens often."

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