Crypto Banks Borrow Billions From Home-Loan Banks to Plug Shortfalls

[mahatmakanejeeves]

David Weigel Retweeted

Two of the biggest banks to crypto companies are borrowing billions from a system designed to support mortgage lending

wsj.com
Crypto Banks Borrow Billions From Home-Loan Banks to Plug Shortfalls
Signature Bank and Silvergate Capital, after a surge in customer withdrawals, have turned to a system originally designed to support

Link to tweet

[multigraincracker]

1. What could go wrong?

Didn't Peter always pay Paul back?

[bucolic_frolic]

2. That's the worst financial news I've heard in years

Bank earnings are so-so, economies are entering recession, we are facing a liquidity crisis, and these over-leveraged hucksters are draining the system to prop up their speculation game gone sour.

[Warpy]

3. Well, that figures, rich guys ripping off institutions meant to help working people

buy their own homes. When the next crash comes, I hope all these guys are stripped down to their skivvies and dropped on their asses in the middle of Watts or Newark or Mattapan or....