Commentary For three years, I’ve been amazed at the relative calm in the financial system. It truly did not seem believable to me that governments and central banks could utterly shatter all market functioning and flood the world with paper money and yet there be no structural consequences for the banks. My only question was…
Anatomy of the Banking Crisis of 2023
March 16, 2023
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Silicon Valley Bank Collapse Could Impact Housing Market in Two Ways: Zillow
March 16, 2023
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Business & MarketsCompanieseconomyFederal ReserveMarketsmortgage ratesreal estateSignature BankSilicon Valley BankUSUS NewsUS Real Estate
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The recent collapse of Silicon Valley Bank (SVB) could impact the housing market in two separate ways, according to real-estate marketplace company Zillow. In an article published on March 14, Zillow chief economist Skylar Olsen noted that mortgage rates could fall if the Federal Reserve pulls back from its aggressive interest-rate hikes—which market experts have said looked likely to…
Did the Government Bail Out Silicon Valley Bank?
March 15, 2023
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In the fallout of Silicon Valley Bank’s collapse, debate surrounds whether the government is bailing out the bank. Lance Roberts, chief investment strategist at RIA advisors, argues that ultimately, all the money used to support or to guarantee depositors or to support banks will come from taxpayers. He also says that we should let the…
Could Latest Bank Failures Threaten the Financial System?
As the fallout from the Silicon Valley Bank (SVB) crisis continues, many economists and market analysts are assessing the situation to determine the exact cause and what could happen in the coming months. With a potential contagion event in the broader banking sector, public policymakers and regulators are attempting to prevent a full-blown financial collapse…
Canada’s Banking Regulator Takes Permanent Control of SVB Branch’s Assets Following Collapse
March 15, 2023
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Canada’s banking regulator has taken permanent control of the assets held by Silicon Valley Bank (SVB)’s branch in Toronto, with the assets being transferred to a new “bridge bank” created by the U.S. Federal Deposit Insurance Corporation (FDIC). “I took this action to affect an orderly transition of the Canadian branch of Silicon Valley Bank to…
SVB Asks Customers to Bring Their Money Back to ‘Support the Future of This Institution’
March 15, 2023
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The Federal Deposit Insurance Corporation (FDIC) appointed a new head of what is now called the Silicon Valley Bridge Bank (SVB), who asked former customers to bring their money back to “support the future of this institution.” Tim Mayopoulos, who became the new CEO of SVB on Mar. 13, said that deposits held within the failed…
Biden Admin’s Banking Busts
March 15, 2023
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banking crisisbidenclimate changeESGFederal Reserveinflationinterest ratesJanet Yellenjerome powellOpinionSignature BankSilicon Valley BankSilicon Valley Bank CollapseSVBU.S. economyViewpointsWashington Mutualwoke
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Commentary The failure of three banks in the last two weeks, including Silicon Valley Bank on Friday and Signature Bank on Sunday, is a saga of utter government incompetence. Call these bank collapses Biden administration’s Banking Busts. The Biden administration has been obsessing on woke causes while banks teeter toward insolvency. Three days before Silicon…
Tyranny Thy Name Is Emergency
March 15, 2023
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Commentary In the last few days, the federal government has embarked on a disastrous path as regards banking and finance. Their actions guarantee a worsening of the problem whether in the near term or down the line. These “emergency” actions have effectively created a moral hazard that could wreck the entire sector and the whole…
Tech Sectors Expects Collapse of SVB to Have ‘Chilling’ Effect on Investments
Members of Canada’s technology sector say they’re worried the collapse of the Silicon Valley Bank (SVB) will have a chilling effect on investments in the already-hampered sector. They say some Canadian startups have been worried about cash flow and many are fretting how they’ll raise their next round of funding after U.S. regulators closed the…
Canada’s Financial Institutions ‘Stable And Resilient’ in Face of SVB Collapse, Says Freeland
In the wake of the collapse of California-based Silicon Valley Bank (SVB), Finance Minister Chrystia Freeland says Canada’s financial institutions are “stable and resilient.” Freeland made the comments in an official statement four days after U.S. regulators closed SVB following a bank run, during which depositors concerned about the bank’s solvency withdrew a total of billions of dollars…
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