How a surprise investment in NYCB helped avert a 2024 bank crisis

Between the lines: This is the best-case outcome for regulators.

• Neither the government nor the deposit insurance fund needed to step in, there was no sign of any kind of bank run and the fear surrounding the NYCB share price has now been replaced with bullishness.

Flashback: Mnuchin led a previous deal where he bought most of the assets of IndyMac, a mortgage lender that failed in the 2008 financial crisis.

• Mnuchin personally made hundreds of millions of dollars from that deal; he's now trying to repeat that feat.

The bottom line: If even beleaguered NYCB is worthy of a $1 billion private-sector investment, other regional banks should be just fine.