On Saturday, Bloomberg reported that Buffett had been in touch with the administration officials recently to discuss the regional banking crisis.
The recent collapse of Silicon Valley Bank and Signature Bank has had significant ramifications for the banking sector.
Buffett has a history of assisting banks in crisis, using his financial strength and investing expertise to restore confidence in the struggling banking system. He’s a champion of the billionaire class, reports Business Today.
Buffett also has a reputation as a humanitarian, but no one should confuse that with this situation. He will get richer, and we will all pay.
Buffett sold 91% of his stake in USB in Q4. Won't be a terrible trade to rebuy 30% lower. pic.twitter.com/2igpBRcdDS
— zerohedge (@zerohedge) March 18, 2023
Lots of speculation that’s turning out to be true.
The Private Jets arrived in Omaha in multiple groups. Sometimes they landed at almost the same time. Did Buffett schedule some meetings with different groups of CEOs every hour? Number of Jets arriving: five at 10 am (est), three at 2 pm, five at 3:30 pm, five at 5 pm, six at 6:15 pm, and three at 7:30 pm.
There could be a billionaire vacation paradise in Omaho that pops in March.
A large number (>20) of Private Jets landed in Omaha yesterday afternoon
Jets flew from HQs of Regional Banks, Ski Resorts & DC
Did Buffett just fly all the regional bank CEOs into Omaha & offer a deal to SAVE the banks?$BRK.B$WAL, $PACW, $FRC, $ZION, $KEY, $FITB, &more
— FuzzyPanda 🇺🇦 (@FuzzyPandaShort) March 17, 2023
Mid-Size Banks Need Bail Outs
Reports over the past few days indicate midsize banks are wobbly.
According to Axios, a coalition of mid-size U.S. banks is calling on the government to insure all deposits for the next two years, in the wake of Silicon Valley Bank’s emergency rescue that insured all of the firm’s deposits regardless of size.
The Mid-Size Bank Coalition of America sent a letter to regulators arguing that a temporary suspension of the FDIC’s deposit insurance limit is necessary to ensure that smaller banks can navigate the current banking crisis, Bloomberg reported.
The purpose is to halt the exodus of deposits. Elon Musk endorses the idea of avoiding a run on the banks. Axios also reports Buffett may bail out regional banks.
It might be necessary; who can say? It would be better if they weren’t reckless investors. That includes failed ESG investing.
Does the Big Guy get 10%?
Warren Buffett whenever there’s turmoil pic.twitter.com/JmaJcxIlNY
— StockMKTNewz – Evan (@StockMKTNewz) March 18, 2023
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