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 ...
Now I’m scared. Never believe anything until it’s been officially denied.
Monday morning: CRASH!!!
Banks are safe and effective.
Of course, if the fed just prints money and makes good the losses…..
Inflation can cause intellectual retardation, especially in the perpetrators.
“safe and effective”
“Yellen: U.S. Banking System ‘Safe and Well-Capitalized’ in Wake of Silicon Valley Bank Collapse”
I think this could be code-speak to other liberals that
(spoken like fog-horn leghorn) — “we still have too much capitalization going on here”.
Probably more to come. Their work is not done yet.
See #5 by BradyLS : “In before the Baghdad Bob photo!”
We’ll see if Ben confirms. But that sure does the job.
Like Mars Attacks: Don’t panic, we are your friends.
Now I'm worried that this was but just the first of MANY dominos to fall.
Nobody, NOBODY, is too big to fail. All the king's horses and all the king's men....
No, the banking system in the USA is NOT safe and sound.
That is another gigantic lie on top of so many other Biden administration lies.
I’m hearing of Steve Carell in The Big Short: “Zero! Zero! There is a zero percent chance the banking system is safe and well capitalized!”
Well, if Granma Yellin’ says so ... an economic asteroid must be about to hit.
Says the same libtard ding dong that thinks inflation is transitory
She’s part of the problem - not the solution
Better to remain silent and be thought a fool than to speak and to remove all doubt ... note of wisdom for Yellen!!!!
Reminiscent of Bagdag Bob
Defective rules can magnify problems.
Proper margins & safeguards need to be in contractual place.
SVB had management defects IMO.
It was in a prosperous part of the USA.
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