'Big Short' trader Danny Moses on Silicon Valley Bank collapse: You can’t assume regulators have any idea what they’re dealing with (via CNBCFastMoney)
"Big Short" investor Danny Moses said the Silicon Valley Bank collapse is exacerbating the economic slowdown despite the government's actions to mitigate the impact. "You can't assume that the regulators have any idea what they're actually dealing with now considering that they were completely caught off guard... by what just happened at Silicon Valley Bank," the Moses Ventures founder told CNBC's " Fast Money " on Tuesday.
Plus, he cautioned there are still ominous issues on bank balance sheets from commercial real estate and auto loans. "If you believe it's [the economy] going to slow down, it just accelerated that slowdown because banks have to really to pull back in their activities," said Moses. He expects first-quarter earnings season, which starts next month, will give Wall Street more clarity.
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