Moody's cuts its outlook on the U.S. banking system.

The Federal Reserve is stuck between Iraq and a hard place,

and Joe Biden proposes a gun control edict to distract from looming financial disaster.

I'm Ben Shapiro. This is The Ben Shapiro Show.

Today's show is sponsored by ExpressVPN.

Do you like your web history being seen and sold to advertisers?

No, me neither.

Get ExpressVPN right now at ExpressVPN.com slash Ben.

Well, we have been told that everything is fine.

All is well.

And this is where you insert the dog in fiery room GIF, right?

Because things are not fine.

All is no.

As it turns out, there are very serious systemic risks to the banking system in the United States. That's not me saying that. That is Moody's now

saying that. And Moody's is late to the game because Moody's was assessing that Silicon Valley Bank

was doing fine, like a month ago. Well, now they're like, ah, guys, I'm noticing some problems.

According to CNBC,

and a harsh blow to an already reeling sector, Moody's investor service cut its view on the

entire banking system to negative from stable. Uh, that's not good. The firm, part of the

Big Three rating services, said Monday it was making the move in light of key bank failures that

prompted regulators to step in on Sunday with a dramatic rescue plan for depositors and other institutions impacted by the crisis. Moody said in a report, quote, we've changed to negative from stable, our outlook on the U.S. banking system to reflect the rapid deterioration in the operating environment following deposit runs at Silicon Valley Bank, Silvergate Bank, and Signature Bank, and the failures of SVP and SNY. That move followed action late on Monday when Moody's warned it either was downgrading or placing on review for downgrade, seven individual institutions. Now, that is important because it could impact credit ratings and borrowing costs for the entire sector, which would mean that it would be harder for these banks to come up with liquidity, which would be a real problem because if the banks can't come up with liquidity, then how exactly do they plan to bail out

their depositors if the depositors all come calling at the same time as the economy sinks into

...