#13526
The move to shutter the second bank is seen in the financial world as a race to contain the fallout from SVB's collapse.
#13527
Regulators approved plans Sunday to backstop both depositors and financial institutions associated with Silicon Valley Bank, according to the Associated Press. All deposit accounts at both institutions, Silicon Valley Bank (SVB) and Signature Bank in New York, will be guaranteed, according to a joint statement released…
#13528
U.S. regulators have stepped in and shut down New York-based Signature Bank in a bid to prevent a banking crisis from spreading like wildfire. The Treasury, Federal Reserve, and FDIC announced in a joint statement Sunday evening that Signature Bank will be closing due to a "systemic risk exception."
#13529
If you support socialism for tech companies, don’t be surprised when you get it for everything else.
#13530
The bill for bad policy comes due, but there’s risk in a second rescue of the banking system in 15 years.
#13531
A Nevada border city will not become a destination spot for abortions after its city council rejected a permit request Tuesday from the Planned Parenthood abortion chain. Stacy Cross, the CEO of Planned Parenthood Mar Monte, admitted they have been eyeing the city of West Wendover since early last year because of its close proximity […]
#13532
Mitchell says comments made by PPGNY leadership were “stained with racist overtones,” and says he was passed over for promotion in favor of a white staffer.
#13533
Legislators in the Massachusetts House approved the use of $1M in taxpayer funding to publicly campaign against pregnancy resource centers (PRCs).
#13534
Two newborn babies were successfully and safely surrendered last week in separate incidents at different Indiana Safe Haven Baby Boxes.
#13535
“Free Jacob Chansley,” Elon Musk wrote in an explosive tweet on Friday.
#13536
The former president’s duet with the J6 Prison Choir called “Justice for All” features Trump reciting the Pledge of Allegiance while his group of background singers — made u…
#13537
U.S. — Ratings for the 95th Academy Awards skyrocketed this year, as millions tuned in hoping to see Jimmy Kimmel get slapped on live television.
#13538
Survivors may have escaped on land, including a woman who called 911 from one of the two vessels.
#13539
Silicon Valley Bank’s failure Friday shined a spotlight on the large losses that the whole banking system has seen on investments in bonds as a result of rising interest rates.
#13540
WASHINGTON, DC -- The following statement was released by Secretary of the Treasury Janet L. Yellen, Federal Reserve Board Chair Jerome H. Powell, and FDIC Chairman Martin J. Gruenberg: Today we are taking decisive actions to protect the U.S. economy by strengthening public confidence in our banking system. This step will ensure that the U.S. banking system continues to perform its vital roles of protecting deposits and providing access to credit to households and businesses in a manner that promotes strong and sustainable economic growth. After receiving a recommendation from the boards of the FDIC and the Federal Reserve, and consulting with the President, Secretary Yellen approved actions enabling the FDIC to complete its resolution of Silicon Valley Bank, Santa Clara, California, in a manner that fully protects all depositors. Depositors will have access to all of their money starting Monday, March 13. No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer. We are also announcing a similar systemic risk exception for Signature Bank, New York, New York, which was closed today by its state chartering authority. All depositors of this institution will be made whole. As with the resolution of Silicon Valley Bank, no losses will be borne by the taxpayer. Shareholders and certain unsecured debtholders will not be protected. Senior management has also been removed. Any losses to the Deposit Insurance Fund to support uninsured depositors will be recovered by a special assessment on banks, as required by law. Finally, the Federal Reserve Board on Sunday announced it will make available additional funding to eligible depository institutions to help assure banks have the ability to meet the needs of all their depositors. The U.S. banking system remains resilient and on a solid foundation, in large part due to reforms that were made after the financial crisis that ensured better safeguards for the banking industry. Those reforms combined with today’s actions demonstrate our commitment to take the necessary steps to ensure that depositors’ savings remain safe. ###
#13541
The ongoing Silicon Valley Bank disaster may yet be a profitable venture for some executives - including one familiar name.
#13542
Philadelphia Inquirer: “He’s hiring campaign aides. He’s hosting parties for political insiders and forming a political committee to aid fellow Republicans. And this week, Dave McCormick will release a new book that weaves together his biography and roots in Pennsylvania, his experience campai
#13543
Strange, he doesn't look like FangFang: Eric Swalwell sends conservative DC_Draino a private message
Eric, dude, be careful who you're begging for retweets and probably money.
#13544
In an open letter to the Academy, the Ukrainian World Congress expressed its ?serious concerns over Russia?s influence on the Hollywood film industry.?
#13545
Sen. Kevin Cramer (R-ND) advocated for Florida Gov. Ron DeSantis to be the lead 2024 presidential candidate, arguing he has earned the right to be “at the head of the class.”
#13546
Representative Michael McCaul (R-TX) said on Sunday on CBS's "Face the Nation" that House Speaker Kevin McCarthy (R-CA) assured him he is planning to give access to the January 6, 2021 security footage to the entire media. | Clips
#13547
SVB Financial faced a perfect storm, but there are plenty of other banks that would face big losses if they were forced to dump securities to raise cash.
#13548
Donald Trump reminded his base on Truth Social that he has done more for America's farmers than any other president ahead of Iowa visit.
#13549
Don't worry, Joe, Adam has your back. Ha ha ha ha ha ha
#13550
Republican governors are pushing several higher education reform efforts to counter culture wars on college campuses. Republican Govs. Ron DeSantis of Florida, Greg Abbott of Texas and Glenn Youngkin of Virginia have made education policy a staple of their governing platforms. Higher education reform efforts…
