Chief Nerd - Published March 11, 2023
From the New York Post - March 12, 2023
Government won’t bail out Silicon Valley Bank, which paid workers bonuses hours before collapse
The federal government won’t bail out the failed Silicon Valley Bank, Treasury Secretary Janet Yellen said Sunday — after it emerged that the bank’s workers landed bonuses just hours before Friday’s collapse.
Depositors could now get back as little as 30% of their money during an anticipated run on the bank Monday morning, a report said Sunday.
Yellen, appearing on CBS’ “Face the Nation,” balked at the government rescuing the nation’s 16th-largest bank, as was done for hundreds of institutions during the financial crisis in 2008.
“During the financial crisis, there were investors and owners of systemic large banks that were bailed out,” Yellen said. “And the reforms that have been put in place means that we’re not going to do that again.”
From the Daily Mail - March 11, 2023
'It isn't a one off': Financial markets brace for more pain from Silicon Valley Bank 'death spiral'- with First Republic, Pac West and Signature Bank stocks down by up to 50% and tech giants unable to access frozen BILLIONS'It isn't a one off': Financial markets brace for more pain from Silicon Valley Bank 'death spiral'- with First Republic, Pac West and Signature Bank stocks down by up to 50% and tech giants unable to access frozen BILLIONS
- The collapse of Silicon Valley Bank has caused a ripple effect across the markets
- Several other small banks have seen their share prices plummet by up to 50%
- Financial experts are warning that similar firms could be at risk
- The collapse of Silicon Valley Bank has caused a ripple effect across the markets
- Several other small banks have seen their share prices plummet by up to 50%
- Financial experts are warning that similar firms could be at risk
The sudden collapse of Silicon Valley Bank has sent financial markets into a frenzy, as experts warn it may not be a 'one off' and brace for the next domino to fall. California regulators shuttered the bank on Friday after a run-on deposits pushed it into crisis, causing the largest US bank failure since the 2008 Great Recession. The ripple effect has already hit similar institutions, such as New York's Signature Bank, which saw its share price plummet 23 percent before trading was halted when the news of SVB's demise came in.
From the Board of Governors of the Federal Reserve System
TRUMP WAS RIGHT ABOUT EVERYTHING!
Pay Attention to Phil...
Way Down we Go - March 10th, 2023
Phil Godlewski 2.0
Phil's LIVE begins at about 22 minutes and 50 seconds into the video!
"Another collapse of an FDIC bank, with experts predicting more to come. Charles Schwab stock is plummeting. Rumors of BoA being next. Has the "big fall" begun?"
"I hope you've spoke to the vendors at www.Goldquiz.com. Get your 401k or IRA out of the stock market, and backed by precious metals!"
"And if you OWE taxes to the IRS, I've arranged a special discount from the pros at Tax Network USA: www.taxnetworkusa.com/phil"
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.