Posted on 03/12/2023 6:10:21 PM PDT by ChicagoConservative27
Treasury Secretary Janet Yellen said Sunday on CBS’s “Face the Nation” that the U.S. banking system was strong after the collapse of Silicon Valley Bank last week.
Partial transcript as follows:
MARGARET BRENNAN: I want to get straight to it because the markets will soon reopen for trading. Does the government need to intervene and take emergency measures because of SVB’s failure?
YELLEN: Well, let me say America’s economy relies on a safe and sound banking system that can provide for the credit needs of our households and businesses. So whenever a bank, especially one, like Silicon Valley Bank with billions of dollars in deposits fails, it’s clearly a concern. From the standpoint of depositors, many of which may be small businesses, they rely on access to their funds, to be able to pay the bills that they have, and they employ tens of thousands of people across the country. We’ve been hearing from those depositors and other concerned people this weekend. So let me say that I’ve been working all weekend with our banking regulators to design appropriate policies to address this situation. I can’t really provide further details at this time. But what I do want to do is emphasize that the American banking system is really safe and well-capitalized, it’s resilient. In the aftermath of the 2008 financial crisis. New controls were put in place better capital and liquidity supervision, and was tested during the early days of the pandemic, and proved its resilience so Americans can have confidence in the safety and soundness of our banking system.
(Excerpt) Read more at breitbart.com ...
ibtbbp
And Biden — “The economy is doing great. We’re hitting on all cylinders!”
Jerks.
Translation: fiat paper money always works. Crank up the printing press.
I don’t think that’s the correct acronym for “In Before The SHTF”
My mind flashed to Baghdad Bob as I read that headline.
After she reassured us I feel much better about not demanding a receipt when I bought the bridge and not getting an update from sending my banking numbers and PIN to the troubled guy in Nigeria by email.
Sometimes we just have to have trust.
But it is the correct acronym for “In before the Baghdad Bob photo!” :-D
I hope it’s backed by Ukraine. They seem to have all our money now.
If you take the vaxx, you won’t get Covid. Russia is our enemy. Our federal elections are legit. Banks are safe and well capitalized.
She would be hilarious if she weren’t so terrifying.
Famous last words.......
FJB and its merry band of vile bassturds.
That assertion is about to be put to the test. What’s the under on the number of banks that will bite the dust this month? I’m thinking 3, and one more is almost in the bag.
Translation: 2008 is going to look like the roaring twenties compared to what’s coming. Turn your cash into hard assets.
Translation: 2008 is going to look like the roaring twenties compared to what’s coming. Turn your cash into hard assets.
Just because the professional career politicians got us into zillions in debt, it’s not that big a deal. The banking system is fine and in fact the entire economy is peachy. We’ll just print more cash and we’ll have hundreds of billions more we can give to Ukraine, and trillions more in foreign aid for countries all over the globe!
I think it’s “In before the Babylon Bee people.”
“Just got off of a zoom meeting with Fed, Treasury, FDIC, House, and Senate.
A Democrat Senator essentially asked whether there was a program in place to censor information on social media that could lead to a run on the banks.”
From Thomas Massie’s Twitter feed an hour ago.
I don’t believe the fat, ugly, stupid, incompetent bitch. She needs to be removed from office immediately. There needs to be a man that has credibility and is politically neutral, not connected to either party. And that ain’t Larry Summers.
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