'Big Short' investor Danny Moses says the SVB crisis is speeding up the US economic slowdown
in what was seen as an effort to prevent the collapse from spiraling into a broader crisis. But according to Moses, regulators don't have a clue of what's in front of them.
"You can't assume that the regulators have any idea what they're actually dealing with now considering that they were completely caught off guard... by what just happened at Silicon Valley Bank," the former FrontPoint Capital lead trader, adding that SVB's bailout"should make people nervous." "The Fed is kidding themselves if they think this situation is just going to go away," Moses continued, adding that markets are underestimating what the fallout could be from the Fed's rapid interest rate hikes.
He also warned further trouble lies ahead, as issues still remain on bank balance sheets from commercial real estate and auto loans.
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