Ken Griffin of Citadel has said because the Federal Reserve intervened in Silicon Valley Bank, "US capitalism is ‘breaking down before our eyes," per the Financial Times.
“The US is supposed to be a capitalist economy, and that’s breaking down before our eyes,” he said in an interview on Monday with the Financial Times.
“The regulator was the definition of being asleep at the wheel,” Griffin said.
“We’re at full employment, credit losses have been minimal, and bank balance sheets are at their strongest ever. We can address the issue of moral hazard from a position of strength," he said per FT.
“It would have been a great lesson in moral hazard,” he said. “Losses to depositors would have been immaterial, and it would have driven home the point that risk management is essential.”
Please see their full article: https://www.ft.com/content/aeb9ef58-6fc1-45af-88b2-b46a2a532b3f?list=intlhomepage
Ken Griffin of Citadel has said because the Federal Reserve intervened in Silicon Valley Bank, "US capitalism is ‘breaking down before our eyes," per FT
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