Mar 14, 2023
Ark’s Wood Says Banking Crisis Was ‘Looming in Plain Sight’
(Bloomberg) -- Regulators should have been focusing on the signs of looming failure in the traditional banking system instead of blocking decentralized financial platforms, Cathie Wood said.
“Asset and liability duration mismatches” combined with falling deposits in the banking system had been pointing to the potential crisis that was in plain sight, the ARK Investment Management chief said Tuesday night on Twitter.
Regulators have been racing to contain jitters in the financial system after the collapse of Silvergate Capital Corp. and SVB Financial Group. On Sunday, the Federal Reserve created a new lending program for banks in response to the turmoil.
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