Hedge fund boss today warned the 'economy will not function' without regional banks as trading was halted in dozens after shares shares tanked by 75 percent.The billionaire urged the US government to reassure customers their money was safe and warned that 'hours matter' as contagion fears spread to the Big Four banks.'Our economy will not function effectively without our community and regional banking system. Therefore, the Federal Deposit Insurance Corporation needs to explicitly guarantee all deposits now. Hours matter,' Ackman tweeted.
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