Editor's Note: The markets have been in turmoil this week - with the recent collapse of Silicon Valley Bank being a major contributor. That's why, in today's guest editorial, our friend Andy Snyder is showing readers how this development is leading to a great investment opportunity in a tiny sliver of the market. Nobody is talking about it - but we wanted to make sure you heard it here first. Click here to learn more about this free opportunity. - Ryan Fitzwater, Associate Publisher Andy Snyder, Founder, Manward Press We know it's a good time on Wall Street when ol' Barney Frank is in the news. The Massachusetts Democrat was a household name in 2009 when he was hashing out the powerful banking regulations that bear his name. He's now long retired from Congress. He's been out of Washington for a decade. But proving the irony, hypocrisy and often flat-out criminality that come with a career inside the Beltway, the 83-year-old is back in the headlines. This time, he's not writing the heavy-handed laws that are supposed to keep banks out of trouble. Nope. He's helping to run a bank that was just taken over by the FDIC... despite the oh-so-heavy-handed regulations he wrote. That's right... the former lip-quivering industry watchdog is now on the board of Signature Bank - the third-biggest bank failure in U.S. history. Kind of ironic. Of course, the former politician says it's not the bank's fault. It's pure politics. He says that the bank didn't need to shut down... that it could have solved its own problems. Frank blamed the company's open-arm policy toward crypto. "I think part of what happened," he said, "was that regulators wanted to send a very strong anti-crypto message." Signature - which also lent money to many in Trump's inner circle - opened its doors to crypto in 2018. It was a move regulators didn't like. Rising rates have caused crypto to falter in recent months. It gave regulators with an itchy trigger finger a solid excuse to make a move and send a message. But it appears an important part of the message was lost in translation. Bitcoin's price has risen nearly 20% this week. There's a lot going on here. All of it is important for investors to understand. There's certainly too much to cover in this short column. But we want you to understand two key things. |
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