We told you back in March that more bank failures are coming. This banking crisis will be with us for years (the core of the last banking crisis lasted from 2008-2012), regardless of whether every bank failure makes the front page of the WSJ or the FT.

• Too many banks got overly aggressive as a result of zero interest rate monetary policy. That’s bad management. More regulation is not the solution to this banking crisis nor is bailing out all depositors.
• Why at this point as a depositor you would have your capital in a small or mid-sized bank is beyond me.
• J.P. Morgan, BofA, Wells, PNC and Citi stand to gain from this banking crisis which will last for several years at least. In the case of failing First Republic (FRC), J.P. Morgan and PNC are bidding for FRC’s assets per the WSJ.

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