Imminent Crisis SEC Slip-Up Drops Hints at Fresh Financial Fears, Then Gets Quickly Deleted

DAHBOO77
Sep 23, 2024
Imminent Crisis SEC Slip-Up Drops Hints at Fresh Financial Fears, Then Gets Quickly Deleted
https://www.youtube.com/watch?v=xbj6VScWwIw
- Oops. The SEC just accidentally published internal commentary along with a speech by Chair Gary Gensler.

Here’s one of the comments which was mistakenly included.

I strongly recommend that a sentence be placed here (or somewhere [sic] in the first part of the speech) to reassure markets that you are not making the speech because you think there is an "imminent crisis."

These internal comms were quickly deleted from SEC.gov, but not before the page was archived for posterity. The slip-up reveals anxiety among regulators over messaging.

Mr. Gensler’s speech addressed financial crises, bank restructurings, and the importance of public disclosures. In it, the SEC Chair rightly argued that depositors need transparency to make good decisions.

Why The ‘Imminent’ Concern?
Let’s get back to those accidentally-published internal comments. An SEC staffer was concerned that Mr. Gensler’s speech might give the impression of an “imminent crisis”. Whenever regulators discuss the solvency of financial institutions there’s a risk that it is interpreted negatively by markets. It’s a valid worry.

Unfortunately, in this market, there are some excellent reasons to interpret the remarks in a cautious light. Let’s start with the latest data on unrealized losses at banks.

Leran More-
https://www.zerohedge.com/markets/sec...

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