As I just commented on another thread, I suspect the fall-out from SVB’s failure is going to cascade throughout almost every other business sector. We are just now starting to hear of the initial harm caused to individuals and businesses. I bet some large corporations are not yet even aware they are invested in the bank.
“I bet some large corporations are not yet even aware they are invested in the bank.”
The economy is incredibly complex, and a major bank failure can have second, third, fourth and even fifth order effects that nobody could see coming.
Some small vendor in the midwest may find out three months from now they can’t make payroll because their largest customer went out of business because they couldn’t make payroll etc etc etc.
Gaetz has said that a major push for taxpayer bailouts of this tech bank will start Monday. They will use the security excuse to rob the American people once again.
He said he will stand against it, but he cannot do it alone.