How is that possible?
The FEDERAL RESERVE OWNS THE PRINTING PRESS!! OUR money will be worth WAY less after this PAYOFF to all the LEFTISSTS at these “banks”! Wait till CRYPTO CRASHES!
Sure, and Covid came from a wet market, the border is closed, we won’t raise taxes, the economy is great, etc.
The shit is about to hit the fan and they know it.
The Federal Reserve is printing $25 billion more to cover it. No worries!!!
The Fed facility will offer loans of up to one year to banks, saving associations, credit unions and other institutions. Those taking advantage of the facility will be asked to pledge high-quality collateral such as Treasurys, agency debt and mortgage-backed securities.
“This action will bolster the capacity of the banking system to safeguard deposits and ensure the ongoing provision of money and credit to the economy,” the Fed said in a statement. “The Federal Reserve is prepared to address any liquidity pressures that may arise.”
The Treasury Department is providing up to $25 billion from its Exchange Stabilization Fund as a backstop for any potential losses from the funding program. A senior Fed official said the Treasury program likely won’t be needed and will exist as a safeguard.
Move ‘em on, head ‘em up, bail ‘em out!
We’ve always been a socialist country for the wealthy. No matter who’s in charge.
OMG! We gotta save Prince Harry of Canada!!! He was conned into putting “all” his money into SVB!!! God save the Prince! And Oprah too! Meanwhile… back in reality…. How’s your cake tasting tonight, Marie?
Almost all investors in SVB bank were major Democrat donors.
Of course, THOSE people will be made whole.
Bear in mind, these same manipulations to “save” the SVB depositors cannot be used to bail out all the bank failures about to happen.
This is more of the same organized crime at the highest Washington DC levels.
“resolution of Silicon Valley Bank, no losses will be borne by the taxpayer.”
“Taxpayer”
But NOT the consumer/customer of the banks. Watch for any new slimy wording for news fees. Possibly service fees such as below minimum balances. Fine print “tack ons”
And policy collusion of all member banks.
Without collusion, they may not be able to pull this off if customers are on their game and move their money elsewhere.
That’s easy. The Federal Reserve will increase the national deficit and debt on its own and lie about it.