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Rockland Congressman Pleased with Swift Fed Action Against Struggling Banks, Concerned More Could Follow

March 15, 2023 by Jeff Lewis

Rockland’s Congressman is pleased the administration moved quickly to take over two failing banks over the weekend, but he’s concerned others could follow. Mike Lawler of the 17th district told “The Morning Show” yesterday that we’re not in the clear just yet…

WRCR market analyst Ken Mahoney of Mahoney Asset Management in Chestnut Ridge, was also pleased to see the Fed move quickly to protect depositors from massive losses… 

Yesterday CNN reported that Moody’s Investors Service cut its outlook for the U.S. banking sector as a whole, and put six institutions, including First Republic Bank, Zions, Western Alliance, Comerica, UMB Financial and Intrust Financial, on review for potential credit rating downgrades.

Filed Under: News

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