Banking Problems Today: My Thoughts On Bank Failures 2023

What happened not too long ago to the banking sector was significant. With the ongoing banking problems today, the most recent bank failures are the biggest ones in nearly 15 years. 

There are root problems in the banking/financial sector in particular. Coming from someone who’s worked at banks, I can relate to what’s happened. 

In this post, I will share my thoughts briefly on what’s happened, and what I think should be done about it. 

Banking problems today: This post will go over my thoughts on the 2023 bank failures.

The modern banking system 

I’m not surprised to see that three major banks had failed. The reason is I believe that the banking system is very complex and is filled with lots of problems.

With all the laws and regulations in place, it’s obvious to think that a lot of the regulations are what really led to these banks’ failing

With the financial sector being one of the most regulated around the world, a lot of problems can come up.

I won’t go into too much detail here since it is complicated, but it’s not the best for consumers. 

What I mean by that is that regulating these banks does not help consumers at all.

Instead, they benefit the banks in a big way; for example, major banks such as JPMorgan, Goldman Sachs, and Bank of America have a lot of capital on hand. They benefit from the regulations since they don’t have much competition. 

Moreover, that’s why many regional banks today don’t do very well, or they’re not as big as the other ones.

Banking Problems Today: My Thoughts On Bank Failures 2023

Consumer reviews

The Federal Deposit Insurance Corporation (FDIC) is another organization that I’m totally against. 

The reason is that it does not ensure that the money your deposit is fully insured. Rather, it just allows banks to act irresponsibly and make bad decisions.

Similar to anything else in the free market, consumers are smart enough to make decisions on who they want to bank with. 

There are a lot of consumer reviews out there on products and services, so why not apply that approach to banks?

If there’s a bank they believe has a high risk of losing money, they may not want to deposit their money in the bank.

How to go about this situation?

Honestly, there’s really nothing that we can do about it. Unless you have control of the banking system, you just gotta step back and see what happens.

Whether for good or bad, it’s something to consider as you make better decisions for yourself.

Instead of worrying about external events such as the banking event, why not focus on creating a better financial future for yourself?

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Final Words

Whatever happens out of this banking situation going on, there are lessons to be learned. But what remains to be seen is the bigger question. 

Will there be fewer regulations and reforming laws in regard to this manner?

That will likely not be the case. But that’s something you should not have to be too focused on when you could be working on other things to improve your own situation.

But that remains to be seen, it’s something I wanted to give my own perspective on as it is an interesting issue to look at.

Your Turn: What problems do you see in the banking system today?

I would like to get your thoughts on this topic. Do you think the banking system is broken? 

Do you feel that it is unfair to consumers?

Would you agree that regulations benefit the banks more than their customers? 

Do you think if you were regulations would help resolve the issue? 

What will you do to help improve your situation?

Feel free to share your thoughts by leaving a comment below. I look forward to reading your responses, and I’ll gladly respond promptly.

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Eric is the owner and chief editor of 

He takes great pride in helping people manage their time and grow their businesses. 

Eric is a firm believer in financial and time freedom, as he believes in financial independence and taking ownership of your time. 

“Time is your most important asset. It can be your best friend or worst enemy. How you use your time can shape the future you desire to have.” 

In his leisure time, Eric loves to write and read whenever possible. He enjoys going for long walks outdoors while doing in-home workout videos every week. 

You can also connect with Eric via LinkedIn.

Self Photo 2019: Here's a picture at a building in downtown Chicago.

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