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to this for a second:

How deep is the rot in America’s banking industry?

“Either this was an indefensible overreaction, or 

there is much more rot 

in the American banking system 

than those of us on the outside 

of confidential supervisory information 

can even know,” 

says Peter Conti-Brown, a financial historian at the University of Pennsylvania.

Somebody sat at his residence in a garage Monday evening and two things kept coming to him:

1) The speed at which things happened

2) The size of the "bailout" 

(Which is what it is.)

Those two things alone ought to concern you.

It gives it away how bad it really is.

And then?

Then there is:

First Thing: Markets on alert after US banks join forces to rescue First Republic

"Nearly half the money – $143bn – went to holding companies for two major banks that failed in recent days, SVB and Signature Bank, triggering widespread alarm in financial markets. The Fed did not identify the banks that received the other half of the funding or say how many of them did so."

Sealed the deal as far as I am concerned.