I guess the main takeaway from this whole bank fallout out is that the Fed ended up only raising by 25 bps rather than the projected 50 bps by the bond market earlier this month. That and UBS and Credit Suisse are now the same company; which really was a long time coming one way or another. However, the overhanging paradox remains: on one hand, banks that make poor decisions deserve to fail; on the other hand, loss of faith in the overall banking system would be catastrophic for the overall economy. Hmmmm......

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