A government-wide hiring freeze has led the Federal Deposit Insurance Corp. to yank job offers to more than 200 new examiners, the front-line employees who closely monitor banks to ensure they operate safely and adhere to an extensive rule book.
The FDIC is already facing a staffing challenge, particularly with a lack of examiners, undermining its ability to reduce the risk of bank failures. A chronic shortage of examiners contributed to the failure of Signature Bank, one of three large banks to collapse in 2023, the agency has said.
Examiners are essentially charged with making sure a bank doesn’t fail, a critical function at the roughly 6,000-employee FDIC, of which roughly 2,300 are examiners. The agency oversees about 4,500 banks around the country, most of them small. It also insures trillions of bank deposits and winds down failing banks. Its work is funded through industry assessments.
Perhaps more significantly, the agency is already in need of additional examiners, with frequent turnover and staffing shortages contributing to major setbacks in recent years. Current and former regulators said they feared the situation could snowball if hiring cuts combine with an uptick in the departures of retirement-eligible employees.
A review of the March 2023 failure of Signature Bank found the supervisory group overseeing large financial institutions in the FDIC’s New York office had average vacancies of about 40 percent. For the six years before Signature’s collapse, the FDIC couldn’t adequately staff the team dedicated to the bank.

Will DeepSeek be the pin to the bubble?
Stay tuned.

YBB,
Necessity is the mother of invention. US companies have lost their minds with unlimited access to capital and Nvidia chips. So, they did not have to be disciplined. A $500B joke!
Corporate America is always trying to out grift American politicians. Both these cast of characters have conditioned us not to question their motives until conditions become extreme.
Jensen Haung knew today is coming, based on his behavior over the past few weeks. But all my cousins in Tech keep drinking the cool aid.
Today is too soon for me to buy any American company.

Will DeepSeek be the pin to the bubble?
Stay tuned.

About Those Taxes ...
But is direct indexing better than ETFs? Generally they are not, in my view, at least not compared to the best ETFs.
...
Typically after a few years, the tax benefit is minimal, and all that is left are fees and complexities. The 1099 tax form on my little $5,000 direct indexing experiment is 86 pages!

I don't plan on adjusting my PRWCX holding, if you were wondering, BaluBalu....in fact I made my annual 10K contribution to it late last month.