After taking emergency action to make Silicon Valley Bank depositors whole, Janet Yellen says, “the banking system remains resilient.” Joe Biden says, “the banking system is safe.” These reassurances may be enough to satisfy some talking heads and keep people from spending Monday refreshing their banking websites, but Keith McCullough says a long-term fix won’t be so simple and won’t happen overnight.
“I’m not looking for one thing,” explains Hedgeye’s Risk Manager In Chief to people hoping the banking crisis is contained. “It’s an important question that doesn’t have an answer. All the people on TV need it to be one answer, they want it to be one answer.”
