Thread regarding U.S. Bank layoffs

Nothing to worry about as the recession ravages the economy

Nothing to worry about as the recession ravages the economy...

Customers will carry a zero balance on their credit cards, a zero balance on personal credit lines, there will be no new commercial loans, no new home mortgages, no new car loans, nor home equity loans...

Depending on the severity of the recession, the price of fuel and electricity and the runaway inflation rates, little to no money will be poured into savings accounts, IRAs or managed 401(k)s, the bank's business customers in discretionary purchases will struggle, the Fed and the OCC will mandate increased loan loss reserves for the existing loans on the books, along with enhanced stress tests

But other than that, the bank shouldn't feel a thing, just the competitive environment from the big banks upstairs, PNC and Truist howling downstairs with the FinTechs nipping at their heels, however once the stock price goes below $25, the all cash offers will roll in from the big banks in Canada or the investment firm located at 200 West Street in New York.

Nothing to worry about, no impact from the economic hurricane predicted by America's banker.

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