By Pam Martens and Russ Martens: February 8, 2024 ~ The S&P 500 closed at a record of 4995.06 yesterday while banks – big, medium, and small – continued to see their share prices hammered. And while the media is focusing the public’s attention on the share price collapse of New York Community Bancorp, which as of yesterday’s closing price is down 56 percent year-to-date and had its credit rating downgraded to junk by Moody’s on Tuesday evening, numerous other banks are trading at their lowest levels in two years. Below is just a tiny sampling of what’s going on in the U.S. banking system (that you’re not reading about in the mainstream news). The chart above shows the share price performance over the past two years of the six banks described below. U.S. Bancorp, parent of U.S. Bank, is the 5th largest bank in the U.S. with $663.5 billion in assets … Continue reading S&P 500 Sets a Record on Wednesday as Banks Continue Tanking