Posted on 03/13/2023 9:50:15 AM PDT by Olog-hai
President Joe Biden insisted Monday that the nation’s banking system was safe, seeking to project calm after the collapse of two banks stirred fears of a broader upheaval and prompted regulators to offer emergency loans to banks to stave off additional failures.
“Your deposits will be there when you need them,” Biden said.
Despite the message from the White House, investors continued to dump shares in bank stocks. Shares of First Republic Bank plunged more than 70% even after the bank said it was accessing emergency funding from the Federal Reserve as well as additional funds from JPMorgan Chase. […]
Speaking from the White House shortly before a trip to the West Coast, the president said he would seek to hold those responsible accountable, and he pressed for better oversight and regulation of larger banks. He promised that no losses would be borne by taxpayers. “We must get the full accounting of what happened,” he said. “Americans can have confidence that the banking system is safe.”
Biden also said the managers of the banks should be fired. …
(Excerpt) Read more at apnews.com ...
Well, now we know the banks are doomed for certain.....
All the cash been looted anyways so......
The customer and/or the taxpayer always pay in the end.
Yeah......
He lies, deceives and dissembles. At other times he’s just incoherent.
But it works for him and his cronies.
A good part of the country goes along with it.
The banks aren’t the problem, joe. You are. You are a marxist and your policies are destroying the economy. So shut up about confidence.
How many of those 81 million ‘votes’ for Biden were actually phony ballots stuffed into drop boxes in the middle of the night?
The American people did not elect this elderly man with dementia.
These are very dangerous times. God help us all!
Who would believe Biden got more votes than Obama?
Yep, something is not right.
When Biden speaks….people panic.
I just won’t tune in.
Actually not many and in only 3-4 Blue cities where it mattered. He didn't supposedly win by much.
Bidet is the most worthless piece of shit ever to inhabit air space.
And he stinks twice as bad.
Im old enough to remember when they told us this inflation was “transitory”. So the Fed will pause rate hikes AND they lay out few hundred billion to backstop these bank runs?
I’ve read nothing but econ news for 2 days, we are headed for another Bank Bailout, already in the Biden Depression.
BREAKING: “Big Short” Investor Michael Burry Tweets Ominous Warning As Bank Failures Pile Up
SVB Collapse: “Big Short” Burry Accuses Regulators of Rewarding “Greed”
https://share.newsbreak.com/3annqsnm
SPEND, SPEND WHILE BANKS FALL, KIDS NOT ADULTS, ILLEGALS HAVE KIDS.
Biden’s 2024 budget proposes up to $300 per month per child for families in Ohio
https://share.newsbreak.com/3anot7b8
Regulators Announce Closure of NY’s Signature Bank, Which Held Significant Crypto Stakes
STORMS
Millions of Americans Bracing for Potential ‘Major’ Nor’easter Storm
SVB Chief Sold $3.6 Million in Stock Shortly Before Bank’s Collapse
Becker sold the shares in accordance with a trading plan filed on Jan. 26, a little over a month before the group sent a letter to stakeholders (pdf) saying it was looking to raise over $2 billion in capital after taking losses. WOKE BANK.
WHAT ABOUT ALL BANKS?
Government Steps In With Plan to Protect All Deposits at Silicon Valley Bank
More Banks Will Fail Like Silicon Valley Bank, Former FDIC Chair Predicts
SPEND, SPEND WHILE BANKS FALL, KIDS NOT ADULTS, ILLEGALS HAVE KIDS.
Biden’s 2024 budget proposes up to $300 per month per child for families in Ohio
https://share.newsbreak.com/3anot7b8
USDC Holders Panic Sell Amid Solvency Concerns MARCH 10https://blockchain.news/postamp?id=usdc-holders-panic-sell-amid-solvency-concerns
DON’T TRUST CLOSED DOORS
U.S. Federal Reserve governors to hold closed-door Monday
https://share.newsbreak.com/3annzvp2
CEO of failed Silicon Valley Bank no longer a director at SF Fed
https://share.newsbreak.com/3annl5g6
Oh, So That’s the Key Position Silicon Valley Bank Did Not Fill For Eight Months
LINKS
SVB had no official chief risk officer for 8 months
LINKS
https://fortune.com/2023/03/10/silicon-valley-bank-chief-risk-officer/
NO TAXPAYER BAIL OUT, WHERE HAVE WE HEARD THAT BEFORE? CLOSED DOOR MEETINGS?
WHAT DO YOU CALL $25 BILLION? BANK BAILOUT.
Biden Weighs in on the Silicon Valley Bank Collapse
https://townhall.com//tipsheet/katiepavlich/2023/03/13/biden-weighs-in-on-the-silicon-valley-bank-collapse-n2620522?utm_source=thdaily&utm_medium=email&utm_campaign=nl&bcid=b6c7e45517db205a05162beabba5ffc9f83c07f7150c95a1c12011e266a2de8c&recip=19488896
CORPS DO 2 THINGS, FLEE COUNTRY, OR RAISE COSTS. THEY DON’T PAY TAXES, YOU PAY TAXES.
Joe Biden Aims to Mirror Blue State Taxes on Rest of Country
Biden Administration Fights 50 Million American Citizens Who Own BTC
https://cryptogazette.com/biden-administration-fights-50-million-american-citizens-who-own-btc/
PAY YOUR OWN STUDENT LOAN, OR SERVE IN THE MILITARY LIKE MANY DO.
SoFi Is Suing the Biden Administration to Try to Avoid Tens of Millions in Losses
SoFi recently sued the Biden administration due to its decision to extend the student loan moratorium for the eighth time.
https://share.newsbreak.com/3anlruc1
FOREX-Dollar slides as U.S. intervenes on SVB collapse
https://www.reuters.com/markets/currencies/dollar-slides-us-intervenes-svb-collapse-2023-03-13/
WHAT DO YOU CALL $25 BILLION? BANK BAILOUT.
https://www.nasdaq.com/articles/forex-dollar-slides-as-u.s.-intervenes-on-svb-collapse
https://cointelegraph.com/news/us-fed-announces-25b-in-funding-to-backstop-banks/amp
Stocks week ahead: US banks sitting on unrealized losses of $620 billion
https://www.cnn.com/2023/03/12/investing/stocks-week-ahead
Biden’s $5 trillion tax gambit catches Congress by surprise
https://share.newsbreak.com/3ankq9mm
Signature Bank shut down in connection with Silicon Valley Bank collapse
https://www.foxbusiness.com/economy/signature-bank-shut-down-connection-silicon-valley-bank-collapse
Robert Kiyosaki Warns of Another Bank Crashing Amid Recent Fallout
https://thenewscrypto.com/robert-kiyosaki-warns-of-another-bank-crashing-amid-recent-fallout/
Macro Economist Henrik Zeberg Warns Worst Market Crash Since 1929 Incoming
https://dailyhodl.com/2023/03/12/macro-economist-henrik-zeberg-warns-worst-market-crash-since-1929-incoming/amp/
Cost of living crisis: Shopper left frustrated after buying just eight items for $45 from Aldi
https://share.newsbreak.com/3ank0p1a
Some Democrat-donor investors furious over Biden’s handling of SVB
https://share.newsbreak.com/3anjruaf
After Silicon Valley Bank failure ‘there’s going to be more,’ warns former FDIC Chair William Isaac
https://share.newsbreak.com/3anjoz6k
Biden Administration Proposes Billions in Funding for Indo-Pacific Region to Counter China’s Influence
https://share.newsbreak.com/3anjdrrf
Biden Administration Proposes Billions in Funding for Indo-Pacific Region to Counter China’s Influence
https://share.newsbreak.com/3anjdrrf
Solar firms Sunnova and Sunrun shed light on exposure to Silicon Valley Bank
https://m.investing.com/news/stock-market-news/solar-firms-sunnova-and-sunrun-shed-light-on-exposure-to-silicon-valley-bank-3027954?ampMode=1
Signature Bank shut down as FDIC, Treasury, and the Fed cite ‘systemic risk’
Another big crypto bank has vanished, with the Treasury, FDIC, and Federal Reserve citing “systemic risk” at Signature, while promising Silicon Valley Bank depositors will have access to all of their funds on Monday.
https://www.theverge.com/2023/3/12/23636780/crypto-collapse-fdic-treasury-shut-down-signature-bank
Wall Street’s 4 top banks just had $55 billion wiped off their market value in a single day
https://share.newsbreak.com/3anly8t7
NEXT DOMINO?
Community Bank System Enters Oversold Territory
https://www.nasdaq.com/articles/community-bank-system-enters-oversold-territory
Crypto’s bedrock bank implodes
Silvergate underpinned almost every American crypto company.
https://www.axios.com/2023/03/11/cryptos-bedrock-bank-implodes
What is left of the USA Economy all goes to Zelenskyy and Keiv, our real Masters. Wait for the food riots to come. This will be nothing like the 1930s depression. Race riots are coming and cities will burn. Wait for the real insurrection when Trump is arrested for “Treason”.
Remember when Hoover said “Prosperity is just around the corner?” It wasn’t and socialist FDR was swept into power for 12 years—Just as Obama will rule (though puppets) for the next years.
People knew a year ago this bank had problems. The chief risk officer quit her position a year ago but didn’t depart the company until October of last year. Vesting to keep her mouth shut?
I’ll be honest. I generally talk to google who transcribes..
so, I guess you’ll have to take it up with google because on internet boards, I honestly don’t put much (any) effort in to correcting google nor am I very good at it. (product of Minneapolis public schools)
Fool me once, shame on you.
Fool me 756 times, shame on me.
- - - - - - -
shame on, shame on, you can’t get fooled again!
Ah yes, system messed millions of people, but you gotta have trust in us, it DEFINITELY won’t happen again. Such a joke
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