Posted on 03/10/2023 8:26:24 AM PST by truthkeeper
U.S. Treasury Secretary Janet Yellen said Friday she’s tracking Silicon Valley Bank’s problems as it deals with big losses.
“You mentioned Silicon Valley Bank,” Yellen said, as she responded to a lawmaker while testifying before the House Ways and Means Committee.
“There are recent developments that concern a few banks that I’m monitoring very carefully, and when banks experience financial losses, it is and it should be a matter of concern.”
(Excerpt) Read more at marketwatch.com ...
Monitoring AFTER the failure... typical incompetent, ignorant, libtard.
we’re supposed to feel better that an incompetent, corrupt government hack is monitoring the situation?
In another words, we’ll bail them all out. Can’t have banks fail and stocks go down, don’t think this is a free market, silly goose.
This time around, the MSM will not be allowed to talk about bailouts they make
The bank had to sell federal debt at a deep discount to face value according to the BBC article I just read.
The national banking situation is bad I suspect.
How idiotic that the Former Chairman of the Federal Reserve whose policies are largely responsible for the current mess with the banks is now the Treasury Secretary and could be in charge of rescuing the banks she helped fail.
Janet just does what she’s told, total tool, which is what the banking oligarchs that run this world desire. Figure that’s why her comments sparked a Wall Street rally, if this system relied on her having a clue, it’d already be over.
Banks tend to hold much of their net worth in government securities.
The government in need of cheap money loves and encourages that.
When this low interest rate debt meets high inflation, it becomes worth less than face value.
A bank that nominally holds a billion in face value debt may actually hold only $900 million in such assets. If force to sell them, the bank might lose $100 million.
These economic sanctions against Russia seem to be working on our own economy. Is that how it’s supposed to work?
Reminds me of something Bongino says, “You go broke slowly at first and then all at once”.
This could be the beginning of the end for the American and world economy.
“How Did You Go Bankrupt?” “Two Ways. Gradually and Then Suddenly.”
Creator: Ernest Hemingway, U.S. author, winner of Nobel Prize in Literature
Context: The character Mike Campbell in the 1926 novel “The Sun Also Rises” was asked about his money troubles and responded with a vivid description embracing self-contradiction:[1]
“How did you go bankrupt?” Bill asked. “Two ways,” Mike said. “Gradually and then suddenly.” “What brought it on?” “Friends,” said Mike. “I had a lot of friends. False friends. Then I had creditors, too. Probably had more creditors than anybody in England.”
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