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episode 2653: What’s Wrong With The Banks?
Circumstances had overwhelmed Titanic. The best-laid plans of the ship's architect and builders had not considered such an eventuality. When the ship traveled at that speed and met a berg of that mass, the outcome was disaster.
It occurred to me how much the current banking crisis resembles that fateful first voyage of the Titanic. Like those who built Titanic, our Bank executives and regulators are experienced, well acquainted with the storms and tides that may come our way.