Treasury Secretary Janet Yellen said she was"concerned" about Silicon Valley Bank depositors following the bank's collapse on Friday, but warned that investors wouldn't be get bailed out.
"Let me be clear that during the financial crisis, there were investors and owners of systemic large banks that were bailed out,""The reforms that have been put in place means that we're not going to do that again. But we are concerned about depositors and are focused on trying to meet their needs." Yellen said she'd been working with regulators all weekend after hearing from depositors to"design appropriate policies to address the situation," without giving further details.
She wanted to"emphasize" that US banks were safe and well-capitalized and that Americans"can have confidence in the safety and soundness of our bank system," adding that the crisis hadn't spread to other banks. Yellen declined to comment when asked if customers with funds stuck in Silicon Valley Bank would be able to get their cash."We're very aware of the problems that depositors will have. Many of them are small businesses, that employ people across the country. Of course, this is a significant concern."
AlfredoJalife 😅
Is she scared to say BAILOUT? 🤣
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
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 »
Yellen: working to address SVB collapse, but not looking at bailoutU.S. Treasury Secretary Janet Yellen on Sunday said she was working closely with banking regulators to respond to the collapse of Silicon Valley Bank and protect depositors, but said a major bailout was not being considered. 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. Capitalism does not bail out failures! 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?
Source: Reuters - 🏆 2. / 97 Read more »
After SVB, Yellen must act to prevent run on banking system, Democrat saysRepresentative Josh Gottheimer asked the treasury secretary to 'take immediate steps using all necessary regulatory tools.' No bailouts! Let them fail. Leftists are absolute sapingos Starting tomorrow, everywhere. Stay tuned. CA did it to themselves
Source: Newsweek - 🏆 468. / 52 Read more »
Working to address SVB collapse, but not looking at bailout, says YellenU.S. Treasury Secretary Janet Yellen on Sunday said she was working closely with banking regulators to respond to the collapse of Silicon Valley Bank and protect depositors, but a major bailout was not being considered. If the rich want deposit insurance above the $250k FDIC limit, they can purchase it themselves. I’m sick of bailing out the donor class. No more socialism for the rich, rugged individualism for the rest. Meanwhile in Britain..,
Source: Reuters - 🏆 2. / 97 Read more »