Fifteen years ago, few will forget the lengthy queues that formed outside many branches of Northern Rock.
The threat of another banking crisis today, precipitated by problems exposed at SVB Investments, First Republic Bank in California and finally a third of Signature Bank's assets have been bought by New York Community Bank, and their 40 branches, are totally different from the issues of 2008. In response to today’s banking problems, the public should be reassured on three key issues. The regulation of banks is much more stringent.
This is no small achievement. In the case of SVB Bank, which finances a significant proportion of California’s tech operation, the writing was on the wall, when depositors attempted to pull out $42 billion last Friday week. Initially the Swiss National Bank provided a $53 billion facility to reassure markets. Over the weekend UBS, Switzerland’s largest bank has agreed to buy Credit Suisse for circa $3.2 billion.
What hasn't changed, experts and reporters blind belief in the corrupt finance sector. Wishing it not to fail, won't make it not fail. Cracks are reopening that have been painted over instead of filled. Good luck everyone 😂
Very different it may well be, it's still the population that will pay for its errors.
Next target is insolvent Deutsche Bank.
Banks - the pillar of capitalism - seemingly the only institutions safe from the capitalist mantra of ‘if it fails you let it die & replace it with something better’! It says something that these institutions need increasingly frequent bailouts to ‘sustain’ this economic system.
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.
Source: BelfastLive - 🏆 16. / 77 Read more »
Source: BBCNews - 🏆 3. / 97 Read more »