18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,163 Blog Posts


FRC is getting its brains blown out this morning, OFF BY 27% on news they lost 40% of their deposits in last month’s great big bank run. If you’re still banking at a regional, your money is likely safe. However, if you’re investing in KRE or regionals directly — you are a fool and should be shot.

Sure, being shot for mal-investments is a bit crude and probably a tad extreme. But how else will you people learn? The JPM oligarchy is sucking in all of the money from the regionals — because there are ZERO incentives to leave deposits at a regional in this fast paced globalized banking world.

Pray tell me why I should keep my money at FRC instead of JPM?

Markets are SOFT early on — led lower by regionals and commodities. I am not fooled, but down 1.25% because, well, I am a bit fooled early on. Nevertheless, I remain CALM and collected and look forward to the rally that is sure to come.

I will now sit here and wait for the rally.

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  1. soupbone

    The JPM and others “contribution” of $30B to FRC in the form of deposits means they might even get their $30B back soon. This thing has to be very close to insolvent. A rebirth of “bank run” activity would spell big trouble for the stock market.

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  2. soupbone

    Why would they leave an unexploded bomb like FRC for weeks? Surely they recognized the risk of rekindling bank run emotion if FRC failed just a few weeks later?

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