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Signature Bank is closed by regulators, the third US bank failure in a week
verge via msn ^ | 3/12/23 | Story by Elizabeth Lopatto

Posted on 03/12/2023 9:25:14 PM PDT by RomanSoldier19

Signature Bank, one of the two big US destinations for crypto companies, has been closed by New York regulators. “All depositors of this institution will be made whole,” the Treasury, Federal Reserve and Federal Deposit Insurance Corporation said in a joint statement.

This is the third major bank that has fallen in the space of a week, and investors are spooked. The joint announcement that depositors will be protected above the $250,000 guaranteed by the FDIC appears to be meant to reassure banking customers that their money will not be frozen. Signature had $88.59 billion in deposits as of December 31, 2022. The New York Department of Financial Services has taken possession of the bank.

(Excerpt) Read more at msn.com ...


TOPICS: Business/Economy; Front Page News; News/Current Events; US: New York
KEYWORDS: bank; banks; cryptocurrency; searchworks; sidebarabuse; signaturebank; silvergate
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1 posted on 03/12/2023 9:25:14 PM PDT by RomanSoldier19
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To: RomanSoldier19

I missed the third bank?


2 posted on 03/12/2023 9:26:38 PM PDT by MinorityRepublican
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To: MinorityRepublican

why


3 posted on 03/12/2023 9:27:21 PM PDT by RomanSoldier19 (Res ad Triarios venit;“We are your ghosts, in this game played by monkeys, organized by lunatics” )
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To: MinorityRepublican

Another article mentioned Silvergate (another crypto currency bank) as having failed.


4 posted on 03/12/2023 9:29:30 PM PDT by BradyLS (DO NOT FEED THE BEARS!)
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To: RomanSoldier19

Silvergate. I didn’t notice that bank had failed.


5 posted on 03/12/2023 9:31:07 PM PDT by MinorityRepublican
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To: BradyLS

Thanks.


6 posted on 03/12/2023 9:31:21 PM PDT by MinorityRepublican
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To: RomanSoldier19

Somehow this doesn’t feel like winning. Pedo Biden is a wrecking ball.


7 posted on 03/12/2023 9:37:50 PM PDT by wildcard_redneck (Biden will mess up the Ukraine worse than Afghanistan.)
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To: RomanSoldier19

GREATEST ECONOMY EVAH!!!!


8 posted on 03/12/2023 9:37:52 PM PDT by SaveFerris (Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
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To: RomanSoldier19

There will still be bank 🏦🏦🏦 runs

Too much of this at the same time

Maybe another 150 billion dollars to Ukraine

America Last

Americans Last

Since George W Bush

EXCEPT under President Donald Trump’s administration


9 posted on 03/12/2023 9:41:36 PM PDT by SaveFerris (Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
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To: RomanSoldier19

Go figure....a bank failure in California and New York. Both places suck.


10 posted on 03/12/2023 10:14:44 PM PDT by inchworm (al )
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To: MinorityRepublican

well its the season


11 posted on 03/12/2023 10:24:41 PM PDT by RomanSoldier19 (Res ad Triarios venit;“We are your ghosts, in this game played by monkeys, organized by lunatics” )
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To: RomanSoldier19

Wasn’t Barney Fwank on the board of this bank at one time?


12 posted on 03/12/2023 10:57:10 PM PDT by virgil (The evil that men do lives after them )
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To: RomanSoldier19

the questions seems to be-

how much 1.something % growing more worthless every day bonds do these banks hold? Which banks hold them and how much compensation did they manage to suck out while valuing becoming worthless bond portfolios at imaginary levels?


13 posted on 03/12/2023 11:30:19 PM PDT by Freest Republican (This space for rent)
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To: RomanSoldier19

Is there anyone else old enough to remember the bank and savings and loan industry meltdown of the 1980s who is feeling a strong sense of deja vu?


14 posted on 03/12/2023 11:54:01 PM PDT by Bubba_Leroy ( Dementia Joe is Not My President)
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To: RomanSoldier19
Another one bites the dust.
15 posted on 03/12/2023 11:58:46 PM PDT by Bubba_Leroy ( Dementia Joe is Not My President)
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To: Bubba_Leroy

It’s Deja Vu all over again!


16 posted on 03/13/2023 1:11:23 AM PDT by SaveFerris (Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
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To: virgil

I believe Edward Kennedy called him
Barney Fag


17 posted on 03/13/2023 1:15:13 AM PDT by BarbM (Men who look at porn are impotent to God.)
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To: RomanSoldier19
Karma...

Signature: “At this point in time, to ensure the peaceful transition of power, we believe the appropriate action would be the resignation of the President of the United States, which is in the best interests of our nation and the American people.”

18 posted on 03/13/2023 1:40:34 AM PDT by C210N (Everything will be okay in the end. If it’s not okay, it’s not the end.)
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To: C210N

Speaking of Germany, interestingly SVB is also in the UK and Germany.


19 posted on 03/13/2023 2:00:25 AM PDT by mewzilla (We will never restore the republic if we don't first secure the ballot box.)
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To: SaveFerris

“Strong as hell!”


20 posted on 03/13/2023 2:11:32 AM PDT by MachIV
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