Expert Network Team
Expert Network Team
Jeff Krommendyk, Mike Miller, Karl Frank, Nathan Merrill
Episode 77: Banking Crisis 2023: What Happened and Should We Worry?
21 minutes Posted May 2, 2023 at 6:00 am.
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Show notes

When Silicon Valley Bank (SVB) failed, it was dramatic. An “A” rated financial company has never disappeared with a few clicks on a cell phone–until SVB in March, 2023.

The experts discuss this fearful and precarious news and put it into perspective. Now we have more uncertainty, and more confidence, at the same time! We are more uncertain about the possible short-term paths–the range of short-term outcomes is huge–from very good to very bad. And that causes uncertainty! On the other had, with the heavy-handed and quick reaction from the Federal Government, in particular the FDIC and Federal Reserve, bank depositors have more certainty that their deposits are secure–more so than in the past.

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Nathan Merrill, attorney
Working with affluent families and entrepreneurs in implementing tax-efficient strategies and wealth preservation
Goodspeed, Merrill
(720) 473-7644
[email protected]
www.goodspeedmerrill.com

 

Jeff Krommendyk, Insurance Expert
Working with business owners and successful families in transferring risk
One Digital Insurance Agency
(303) 730-2327
[email protected]

 

Karl Frank
Financial planner helping a small number of successful families grow and protect their wealth and choose how they want to be taxed
CERTIFIED FINANCIAL PLANNER™
A&I Wealth Management
(303) 690.5070
[email protected]