Blogger's note- May 4th, 2023- A few days later, First Republic tanked, and FDIC gave J.P. Morgan a sweetheart deal on the best parts of it. A couple more banks are teetering right now, I won't mention names. The Fed just raised interest rates another quarter point yesterday. It's time for a new meme. Again, I see this Bankpocalypse beginning like the Retail Apocalypse. It's another aspect of The Big Transition. The old, Industrial Age models are crumbling, piece by piece, and the Information Age models are rising up.
