Yellen: working to address SVB collapse, but not looking at bailout

U.S. Treasury Secretary Janet Yellen testifies before a U.S. House Ways and Means Committee hearing on President Joe Biden's fiscal year 2024 Budget Request on Capitol Hill in Washington, U.S., March 10, 2023. REUTERS/Evelyn Hockstein

WASHINGTON, March 12 - U.S. Treasury Secretary Janet Yellen on Sunday said she was working closely with banking regulators to respond to the collapse of Silicon Valley Bank"Let me be clear that during the financial crisis, there were investors and owners of systemic large banks that were bailed out...and the reforms that have been put in place means we are not going to do that again," Yellen told the CBS News Sunday Morning show.Reporting by Sarah N.

If you are looking for a distraction from this mess... Try this short story in rhymes....

debbydebski gausah sibuk sibuk kak, ada mamih yellen

Why not, Janet? Is a big superpower poised to swoop in and rescue them instead? That's how superpowers eat each other. China have invested $ in the west then they brought covid to our shores by keeping it's spread quiet for months. Russian oligarchs pulled the plug on 💰in 2008

And inflation was transitory

They will reimburse every one of their major campaign donors

The CMO’s in GFC value fell because of a collapse in the value of homes underlying them with subprime CMO’s trading as low as 30 cents on the dollar; assets of SVB have declined with increased interest rates, but not nearly as much and if held to maturity not at all better setup

FIRE the bank leadership and fine them millions. POTUS VP

Govt failed last time so tax payers bailed out the world and no one was held accountable.Govt then “fixed”the problem.Except, uh, well, it didn’t. Gee I guess we failed again. Guess tax payers have to bail everyone out. Again.And it only hurts…taxpayers. Is there a theme here?

Capitalism does not bail out failures!

Yellen is a full time Treasury sec for Democrats and part time sec for Ukraine. She doesn't have time to fix problems for regular Americans.

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US Treasury's Yellen expressed confidence in regulators after meeting on SVBU.S. Treasury Secretary Janet Yellen met with banking regulators on Friday to discuss the collapse of SVB Financial Group and expressed 'full confidence' in their abilities to respond to the situation and that the U.S. banking system remains resilient, the Treasury Department said. Ooo we're Aces Now Ms. Yellen’s shaky voice and trembling mannerisms do not foster confidence. 🤣🤣🤣
Source: Reuters - 🏆 2. / 97 Read more »

Yellen says US banking system 'remains resilient' in wake of SVB collapseSilicon Valley Bank collapsed late Friday morning after a run on the bank, roiling global financial markets amid fears of a possible liquidity crisis. Never trust anyone w/ bad teeth Seriously, one step closer to French Revolution methods.
Source: FoxBusiness - 🏆 458. / 53 Read more »

Treasury, FDIC to brief California lawmakers on SVB collapseU.S. Treasury and Federal Deposit Insurance Corp. (FDIC) officials plan to brief members of California's congressional delegation on the collapse of Silicon Valley Bank, Axios has learned. No bailouts for billionaires.
Source: axios - 🏆 302. / 63 Read more »