Commentary Banking regulators, along with the board of directors and management of Silicon Valley Bank (SVB), each failed to see or prevent the problems that destroyed in less than a week one of the largest banks in the country. The regulators, whose mandate is explicitly designed to prevent such a disaster, allowed SVB to grow…
The Costs and Consequences of the SVB Bailout
March 20, 2023
admin
Business & MarketsBusiness ColumnistsdepositorseconomyMarketsOpinionregulatorsSVBU.S. TreasuryUSUS NewsViewpoints
0 Comment
Is Your Bank Safe Now?
March 19, 2023
admin
banking systemBusiness & MarketsBusiness Columnistsfinancial marketsFirst RepublicOpinionSVBViewpoints
0 Comment
Commentary One week ago Sunday, the Federal Reserve Board, alongside the FDIC and the U.S. Treasury, announced plans—in the wake of the failure of Silicon Valley Bank (SVB)—to provide liquidity to U.S. banks in an attempt to “bolster the capacity of the banking system to safeguard deposits and ensure the ongoing provision of money and…
Banking Regulators to Face Congress Over SVB, Signature Bank Collapse
March 18, 2023
admin
Business & MarketscongresseconomyFDICHouse Financial Services CommitteePoliticsSilicon Valley Bank CollapseSVBUSUS News
0 Comment
Congress will hold its first bipartisan hearing with top federal financial regulators into the failure of Silicon Valley Bank (SVB) and Signature Bank at the end of the month, the House Financial Services Committee announced Friday. Martin Gruenberg, chairman of banking regulator the Federal Deposit Insurance Corporation (FDIC), and Michael Barr, vice chair for supervision…
SVB Collapse: Would the US Help Chinese Drugmakers?
Silicon Valley Bank’s collapse is rippling into China. Thousands of Chinese companies are listed among the bank’s clients—with over $240 million in assets on the line—and 57 are on a special list belonging to the Chinese Communist Party. Those same companies fall under the “foreign depositors” category that the United States is set to protect….
Americans to Bear Burden of Monetary System’s Gradual Deterioration, Economist Says
Ordinary Americans can expect their wealth to get repeatedly chipped away as the monetary system degrades and requires progressively more intervention by authorities to perpetuate itself, according to an influential author and economist. It may take “a very long time,” however, for the system to actually break, he told The Epoch Times. The recent downfall…
SVB Parent Company Files For Bankruptcy Amid Bank Turmoil
The parent company of the collapsed Silicon Valley Bank (SVB) has filed for bankruptcy. SVB Financial Group, which is no longer affiliated with SVB after the failed bank was taken over by the Federal Deposit Insurance Corporation (FDIC), said in a press release Friday that it has filed a petition for a court-supervised reorganization under Chapter 11….
Australia’s Unemployment Rate Returns to Record Low in February
An employment surge has seen Australia’s jobless rate fall to a 48-year low across June and December 2022. According to the latest data from the Australian Bureau of Statistics (ABS), the unemployment rate dropped from 3.7 percent in January to 3.5 percent in February as 64,600 Australians found a job during the period. “With employment…
Capitol Report: Yellen Grilled on Capitol Hill Over Bank Collapse; TikTok Could See Outright Ban in US
A week after the second largest bank collapse in U.S. history, Treasury Secretary Janet Yellen testified before the Senate. She says Americans can feel confident in the banking system, but some lawmakers aren’t buying it. In a drastic escalation, the Biden administration threatens to ban TikTok if its Chinese owners don’t sell their shares. This…
SVB, ESG, and Biden’s ERISA Rule
Commentary The collapse of Silicon Valley Bank (SVB) occurred just days after Congress passed the Braun-Barr resolution, which overturns the Biden administration’s “Prudence and Loyalty” rule and its encouragement of environmental, social, and governance (ESG) investing by pension managers under the Employee Retirement Income Security Act (ERISA). The timing could hardly be more instructive. The Prudence…
Yellen: Americans’ Bank Savings ‘Remain Safe’ After Recent Collapses
March 16, 2023
admin
Business & MarketsCompanieseconomic policieseconomyExecutive BranchJanet YellenMarketsPoliticsSilicon Valley Bank CollapseSVBUS
0 Comment
Treasury Secretary Janet Yellen on Thursday told members of Congress that their bank deposits and savings “remain safe” after the collapse of Silicon Valley Bank and Signature Bank in recent days that prompted federal intervention. Speaking before the Senate Finance Committee, Yellen said that the federal government is committed to ensuring that deposits are safe…
US News
RSS Error: A feed could not be found at `https://www.theepochtimes.com/c-us/feed`; the status code is `200` and content-type is `text/html; charset=utf-8`