The federal government will not bail out the “investors and owners” of Silicon Valley Bank, Treasury Secretary Janet Yellen said Sunday on
, saying the situation is different from the 2008 financial crisis, as the tech industry reels from the bank’s sudden collapse amid fears of broader financial industry contagion....
The government is “concerned about depositors, and we’re focused on trying to meet their needs,” she said. Though she said she could not go into details, Yellen said “I've been working all weekend with our banking regulators to design appropriate policies to address this situation,” and noted an acquisition of Silicon Valley Bank is one option the Federal Deposit Insurance Corporation is considering.
Yellen suggested there would not be ripple effects from the collapse, saying “the American banking system is really safe and well-capitalized, it's resilient.”“the best outcome” would be for Silicon Valley Bank to find a buyer before Asian markets open late Sunday, adding that he’s “optimistic.
Government gets involved It’s called a bailout Inflation is killing/touching everything And no Energy Independence
When the going gets tough. The Tough get going
They just need to hang a Ukrainian flag outside!
Monday about to be interesting
She will have to do something, but has the power to demand that banking regulations rolled back by Trump are reinstated and those not in compliance day 1 pay fines. Insider info was part of the run... Peter Thiel pulled his money out on Thursday.
vankapro It's okay Janet, vanguard has enough money to bail them out.
I thought Forbes readers didn’t believe in socialism?
She must identify as a turtle.
She isn’t wrong I stand with her decision.
What does that mean if your employer uses them for payroll? My check is on hold till Monday!!!!
SVB_Financial was highly rated by you. But I guess you were using the new definition which was most woke with ESG and diversity. The old definition of best banks that meant safest for your deposits is racist.
OK but People yeah. Why manipulate title. Bullish
This is a prime example of GO WOKE, GO BROKE - SVB_Financial had a HIGH ESG rating promoted by TheDemocrats HouseDemocrats JoeBiden jimcramer & NBCNews & CNBC 2008 $1.6B of gov pd Obama/Biden bank bailouts went to exec bonuses.
No, but they will bailout the depositors at the expense of taxpayers.
Good.
The depositors can’t get any taxpayer dollars either. She’s unqualified to make these calls and needs to step aside. Plus, Rudy Havenstein says she’s being bribed with “speaker fees” and that’s where the bulk of her less than ten million dollars is coming from.
Bad management
Misleading headline. She’s ruled out bailout for investors and owners, NOT depositors.
I promise she would have had the bank been Goldman Sachs.
hooray billionaires alwayssurvive
Yelling solves nothing
and she ruled out a facelift
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