The bottom line is Stage II of the crisis is here, and the effects will be devastating to financial institutions and the stock market as a whole. Well, it seems that the quiet period is over and we are entering Stage II of the banking meltdown. According to the latest data from the FDIC, many banks could be at risk of failure as unrealized losses reached $517 billion in the first quarter of 2024, up from $478 billion in the last quarter of 2023. 40 banks with over $1 billion in assets have already reported unrealized losses higher than 50% of their equity capital. Over 200 smaller banks with lesser assets have issued the same reports. https://www.zerohedge.com/markets/banking-crisis-stage-two