Bill Ackman: Time Running Out To Fix Further US Banks Collapse

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Bill Ackman Warns Of Risk To All US Banks

According to latest remarks by Ackman, the next weakest bank, in the current case PacWest could fall prey to the domino effect, at the back of the recent collapse of First Republic Bank. He added that no regional bank can survive bad news or bad data, amid constant fall in stock prices.

“As each domino falls, the next weakest bank begins to wobble. We are running out of time to fix the problem, we need a systemwide deposit guarantee regime now.”

The KBW Nasdaq Bank Index, a benchmark stock index of the banking sector, fell by over 5% over the last few days as the PacWest stock began to show signs of weakness.

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