Eh, unlike 2008, a lot of these banks are essentially victims of rising interest rates. Early in the pandemic, when rates were at zero, they had to invest incoming cash into something, and many chose long term treasuries that were paying next to no interest. Now with bank runs happening, they’re having to sell these treasuries prior to their maturity date, well below their matured value. As more banks get run, the market for those treasuries gets even worse because more banks are being forced to sell them, flooding the market with these low interest treasuries. It’s a shit show…
I’m sure there are other issues happening as well, but that’s one of the largest contributors to the current state.
