After repeated laments by the likes of Bill Ackman, who most recently said that “I continue to believe that the best course of action is a temporary @FDICgov deposit guarantee until an updated insurance regime is introduced” (and who just flip-flopped on his “Fed must hike with shock and awe“ call from 2022 and is now urging for a Fed hiking pause), and following a Bloomberg weekend report that US mid-sized banks demanded a two-year total deposit insurance scheme from the FDIC, and warned if it doesn’t arrive, there may lots more shotgun weddings (or shotguns), moments ago Bloomberg reported that “US officials are studying ways they might temporarily expand Federal Deposit Insurance Corp. coverage to all deposits, a move sought by a coalition of banks arguing that it’s needed to head off a potential financial crisis.” Guess our March 12 tweet was ahead of its time yet again.

Click for Full Text!