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Wild Swings in Bank Stocks Create Opportunity for Brave Investors
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- Bonds rally in rush for havens; US regional bank stocks sink
Silicon Valley Bank headquarters in Santa Clara, California.
Photographer: David Paul Morris/BloombergBarney Frank, who as a congressman helped overhaul US banking regulation through the Dodd-Frank Act, said cryptocurrencies are the big difference between now and 2008, when the US had its last big US financial crisis, writes Max Reyes:
“Digital currency was the new element entered into our system,” the 82-year-old Frank said in an interview. “A new and destabilizing – potentially destabilizing – element is introduced into the financial system. What we get are three failures.”
Barney Frank in Washington on Dec. 8, 2022.
