Taking to Twitter on March 17, investor and famend short-seller Invoice Ackman mentioned Financial institution of America has plans to step in and purchase distressed U.S. Signature Financial institution, one among three banks that went into pressured receivership after a disaster within the U.S. banking sector final week.
Again of America to Signature’s rescue?
I’m listening to that @BankofAmerica goes to purchase Signature Financial institution on Monday. Except and till we are able to defend uninsured deposits, the price of capital goes to rise for smaller banks pushing them to merge or be acquired by the SIBs. I don’t assume that is good for America.
— Invoice Ackman (@BillAckman) March 17, 2023
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