Total deposits across all banks are much higher now, $17.6t now vs $6.7t in 2008.
In 2008 banks had trouble because they were holding lots of mortgages and MBSs and their value went down a lot, losing them ton of money, forcing liquidation.
In 2022, old TBills value went down a lot due to new TBils offering much higher yields and expected to remain that way for unseeable future. Funny enough, it is where banks were invested too much similar to MBSs. Also since the debt is more expensive, more and more unprofitable companies having difficulty to pay them back and they will default on them if they cannot refinance.
Saving banks this way will push interest rates even higher, if not today in future which will make more banks fail.
There is no good way out of it, the best way is probably combination of all: some failed companies, support on banks, a bit of inflation etc. However, I feel like current management will just put all the strain on inflation.
Which companies are there with high long term debt but good finances? I think the future will be bright for them.
h/t Gary6587