- Pershing Square Capital Management's Bill Ackman said regional bank stocks are an “incredible bargain” now.
- Ackman said the Federal Deposit Insurance Corp. needs to explicitly guarantee all deposits for the time being.
- The KBW Regional Banking Index sank as much as 12% on Monday.
- Ackman said more banks would likely fail despite the intervention from the Federal Reserve.
Ackman Says Regional Bank Stocks Are an ‘Incredible Bargain’ Now
Pershing Square Capital Management’s Bill Ackman said that regional bank stocks are an “incredible bargain” right now as long as the government does the “right thing.”
Jessica Park
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