Author Nomi Prins (All the President’s Bankers) just published an interesting analysis of some events that took place last April, beginning with an impromptu summon for Janet Yellin to meet with the current occupant of the White House on April 11, which was followed by several other meetings during the same week (see What is spooking the Fed? Are emergency meetings signalling the perfect storm is upon us?).
As Prins reminds those of us who were not paying attention, Yellin’s visit at the White House was also followed two days later by the publication of a joint press release from the Federal Reserve and the Federal Deposit Insurance Corp. that “effectively indicated that seven of the eight systemically important (“too big to fail”) U.S. banks would need another HUGE bailout (as opposed to the cheap money that lubricates them now) in a crisis.”
So, what do these meetings portend for the rest of 2016?
Henri Thibodeau Henri’s Web Space