It's crazy i've mentioned these bank failures to my normie friends and family and they just brush it off like its nothing, its the 5th one this year, at what point to people think something is wrong or do they need to wait until its their bank that goes tits up?

A few years ago, the Fed gave banks a ton of money and instructed them to purchase US Treasuries with those funds. At the time, treasuries were paying very low rates, but the money was "free" so they did what they were told. Now, a few years later, interest rates are jacked up and those same treasuries that were bought years ago are going underwater more and more over time, and when the smaller banks have to realize their losses on them due to liquidity crisis, they fail. Then, JP Morgan smells blood in the water and buys the smaller bank for change on the dollar. Are we really supposed to believe that the Fed and largest banks (JP Morgan, Bank of America, and co.) weren't colluding the whole time?

First Republic Bank, based in San Francisco, has become the third major US bank to go under since March. The bank had over $229 billion in total assets and $103.9 billion in total deposits as of April 13, 2023. The Federal Deposit Insurance Corporation (FDIC) acted as the receiver and entered into a purchase and assumption agreement with JPMorgan Chase Bank to assume all deposits and assets. The FDIC estimates the cost to the Deposit Insurance Fund at around $13 billion. First Republic had received a $30 billion lifeline from 11 of the US's largest banks in March, but the stock had plunged more than 97%, leading to its failure. The bank started operations in 1985 with a single San Francisco branch and primarily catered to wealthy clients in coastal states.

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Why are banks failing again? Is it because of Biden?