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U.S. lenders plagued by 'irrational' liquidity crunch: Rosenberg

U.S. lenders plagued by 'irrational' liquidity crunch: Rosenberg

BNN Bloomberg
Friday, March 24, 2023 6:50 PM GMT

Following widespread concern about the health of the U.S. banking industry, David Rosenberg, the founder and president of Rosenberg Research, said the current liquidity crunch is markedly different from the 2008 financial crisis.

“We're obviously in a financial crisis and it's a liquidity crisis. It's not really one of gaping holes on bank balance sheets,” Rosenberg said in a television interview with BNN Bloomberg Friday. 

“It's a different crisis. It's not really about bank capital or bank balance sheets, per se. It's really about liquidity and…a run on deposits.” 

Rosenberg said the current problem is a “complete collapse in confidence” regarding the U.S. banking sector which is causing a run on bank deposits. He said the crisis of confidence is irrational, but “irrationality can cause these liquidity crises.” 

Read full story on BNN Bloomberg
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