Economist Nouriel Roubini is a vocal critic of the crypto sector.
The prominent economist known as “Dr. Doom” celebrated this week’s collapse cryptocurrency-linked Silicon Valley Bank and Signature Bank of New York.
The feds guaranteed all deposits at both SVB and Signature Bank whether they were were insured or not. Before the intervention, the FDIC’s rules insured deposits of up to $250,000 per account – with holders on the risk for anything higher than that limit.Roubini was particularly incensed about the feds’ decision to backstop depositors at Signature Bank.
“Mother of al [sic] moral hazards. Rewarding scammers, crooks, human traffickers, criminals & con men. Sickening!” he added.SVB and Signature Bank rank as the second- and third-largest bank failures in US history, respectively. Their collapses are the largest since the Great Recession.
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