"Another 50 banks can collapse until they solve the structural problem," RIA Novosti quoted him as saying.
Politicians, according to McDonald, will most likely have to introduce a much larger withholding of deposit outflows from bank accounts, significantly exceeding deposits of $ 250 thousand.
He also said that the risk of a recession in the United States economy is inevitable.
On March 16, United States Treasury Secretary Janet Yellen said that the administration of US President Joe Biden considers it extremely likely that after the bankruptcy of a number of banks, other American financial institutions may also be recognized as insolvent and will face massive withdrawal of funds from their accounts by their customers.