US Bank Failures Looming, Warns Fund Manager.
Soros Fund Management CEO Dawn Fitzpatrick warns that the banking sector crisis is not over yet and more bank failures are in sight, particularly in small banks. She believes that there are more problems under the surface and banks have to prepare for incoming regulatory measures that will require them to report their unrealized losses on assets such as government bond holdings. Fitzpatrick also predicts that there will be a lot more scrutiny on liquidity management and liability management, which was not given much focus during the 2008 financial crisis.