Even though mega-banks like BofA, Wells, Citi, Goldman, and Chase are no less solvent than their regional banking cousins, the regulators will continue to sweep their financial shenanigans under the rug for as long as possible (or necessary).
-NW

Here We Go Again: Troubled California Bank PacWest Craters 60% On Report It Is Seeking Buyers Or Capital Raise
Zero Hedge
MAY 03, 2023

[snip]

Earlier today, when Jerome Powell openly lied to the American People during the FOMC press conference stating without a hint of irony that the US banking system is "sound and resilient"...

zerohedge @zerohedge
May 3, 2023
https://twitter.com/zerohedge/status/1653868838046298114

This is unprecedented humiliation for the @federalreserve

Just 2 hours earlier, Powell said US banking system is "sound and resilient", seemingly unaware that yet another of the largest California banks was teetering on the edge.

How is this level of incompetence possible

This is unprecedented humiliation for the @federalreserve.

Just 2 hours earlier, Powell said US banking system is "sound and resilient", seemingly unaware that yet another of the largest California banks was teetering on the edge.

How is this level of incompetence possible

— zerohedge (@zerohedge) May 3, 2023