Posted on 03/23/2023 6:19:59 AM PDT by Kaiser8408a
Like the old EF Hutton ads, when Treasury Secretary Janet “Too Low For Too Long” Yellen speaks, people listens. Particularly when she reverses course after bailing out he Silicon Valley/Big Tech buddies by guaranteeing deposits. Then in a US Senate hearing AFTER Fed Chair Powell tried to calm markets, Treasury Secretary Janet Yellen told Senators yesterday that ‘Blanket insurance’ of bank deposits is not being discussed. Look out below!
So why did the Biden Administration and Janet Yellen bail out Silicon Valley Bank (SVB), regulated by San Francisco Federal Reserve (run by Mary Daly)? And then tell the US Senate “That’s it!”??
Where was Mary Daly when SVB increased loans to INSIDERS before its collapse? And will Daly/Yellen actually punish the CEO of SVB who jetted off to Maui after the collapse rather
Perhaps SF Fed’s Mary Daly should be prosecuted for negligence. Or thinking that SVB is unreserved.
(Excerpt) Read more at confoundedinterest.net ...
I wonder how many Free Republic members are old enough to remember that E F Hutton ad. :-)
47 and I remember them. My favorite member of the Hutton family was Lauren.
I worked for EF Hutton when they spoke and the Feds listened.
EF Hutton, Bear Stearns, Kidder Peabody, Paine Webber, Shearson, Dean Witter all gone or bought out.
Yup—the stock market tanked yesterday as soon as Yellen opened her mouth.
Now Janet can match Biden’s frequent claim: “I did that!!!”
where does yellen get the authority to bail out banks like SVB....and for that matter where does she get the authority to give the Ukes $10 billion??
Add Bache and Prudential Securities to the list-—
“”In 1981, the company acquired Bache & Co., a stock brokerage service that operated as a wholly owned subsidiary until 2003, when Wachovia and Prudential combined their retail brokerage operations into Wachovia Securities, with Prudential a minority stake holder”””
I remember Bache, a girlfriend worked there.
If Yellen is who the markets listen to then we are truly screwed. I don’t think she could find her own ass with 2 hands and a compass.
When Janet Yellen speaks...she sounds robotic. Does anyone else notice the staccato over-pronunciation of each word? It drives me crazy.
I sure am. EH Hutton and Merrill Lynch advertised a LOT. Maybe, they should have used that money on something else?
Pru-Bache was my first brokerage company.
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