Famed investor Bill Ackman is warning that America’s regional banking system is at risk and criticized the Federal Deposit Insurance Corporation (FDIC) for worsening the banking crisis facing the nation.
“The regional banking system is at risk,” Ackman stated in a tweet on May 4. The collapse of Silicon Valley Bank (SVB) has “woke up uninsured depositors everywhere,” he said. Ackman blamed the FDIC for failing to expand its insurance regime, which has ended up hammering “more nails in the coffin,” indicating worsening of the banking crisis.
