by Mac Slavo, SHTF Plan:

A chief strategist of the Wall Street bank, Morgan Stanley has pointed to a big drop in lending amid tightening standards,  meaning the “credit crunch” in the United States has started. Mike Wilson claimed that the banking crisis, which started with the collapse of Silicon Valley Bank (SVB), has led to a tightening of lending standards.

Wilson’s warning comes over a month after massive deposit runs caused two lending banks, Silicon Valley Bank and Signature Bank, to fail within days. A third lender, First Republic, ended up being the recipient of a $30-billion rescue from top Wall Street banks in the form of deposits. The big players stepped in over investor fears that First Republic would become the next institution to fail.