Bill Ackman has said: I am hearing that Bank ofAmerica, $BAC, is going to buy Signature Bank on Monday.
He also said: Bill Ackman said a plan to deposit $30 billion into First Republic Bank creates a "false sense of confidence."
"The result is that FRB default risk is now being spread to our largest banks," he said.
Bill Ackman has said: I am hearing that Bank ofAmerica, BAC, is going to buy Signature Bank on Monday
3/17/2023
"Spreading the risk of financial contagion to achieve a false sense of confidence in FRB is bad policy," he said.
"We are beyond the point where the private sector can solve the problem and are in the hands of our government and regulators," he said.
William Ackman, a billionaire investor, also tweeted that the lack of a systemwide guarantee for deposits by the FDIC would result in more bank runs. It was mentioned that Ackman's message was reposted over 2,500 times.
Ackman: “Absent a systemwide @FDICgov deposit guarantee, more bank runs begin Monday am,”
Read more: https://unusualwhales.com/news/observers-said-social-media-posts-helped-fuel-banking-system-concerns
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