JUST IN: Treasury Secretary Yellen says US prepared to take action on deposits “if warranted.” Yesterday, Yellen said they were no longer considering backing all deposits. 2 days ago, Yellen said they were considering backing all deposits. This is not how you reduce panic.

@KobeissiLetter Is this why were seeing the SPX and etc go rede?

The response to this crisis by regulators has been a mess. The Fed is raising rates while Yellen backtracks on reassuring comments. Investors in regional banks are running for the exits. “Taming” panic with more panic. Follow us @KobeissiLetter for analysis as this develops.

@KobeissiLetter Would be great to see the corn rally on these statements. Sooner or later it really won’t GAF.

@KobeissiLetter 2 sets of speech one each for alternate days

@KobeissiLetter She’s all over the place and obviously doesn’t have a plan. Time to fire her.

@KobeissiLetter @BillAckman at this point what motivation does she have to tell the truth about anything?