Akman

According to reports, Akman, founder of Pershing Plaza Capital, said that although the Federal Reserve intervened, more banks might fail. Founder of Pershing Plaza Capital: Despite the intervention of the Federal Reserve, more banks may fail Analysis based on this information:In a recent report, the founder of Pershing Plaza Capital, Akman, has raised concerns about the stability of the banking system despite recent efforts by the Federal Reserve to intervene. He cautioned that despite the measures taken by the central bank, there is a likelihood that more banks might fail. This warning provides a bleak outlook for the future of banks, given that the economy is already struggling with the COVID-19 pandemic. Akman’s comments come at a time when banks are facing numerous challenges such as low-interest rates, sluggish economic growth, and increased competition from non-banks. Banks are also grappling with the long-term impacts of the pandemic, including the significant increase in loan losses and declining asset values. The decline…