President Biden delivers remarks on the collapse of Silicon Valley Financial institution after Treasury Sec. Yellen promised there could be no bailout.
RELATED: Fed Chair Jerome Powell seems earlier than Senate Banking Committee
Federal regulators stated Sunday they have been taking steps to make sure that depositors of the failed Silicon Valley Financial institution could have entry to all their cash on Monday. The Federal Reserve, the Treasury Division and the Federal Deposit Insurance coverage Company introduced that the financial institution’s troubles posed a systemic danger to the monetary system, permitting regulators to take the weird step of guaranteeing the deposits.
“This step will make sure that the U.S. banking system continues to carry out its important roles of defending deposits and offering entry to credit score to households and companies in a fashion that promotes robust and sustainable financial progress,” the businesses stated in a joint assertion. The regulators additionally stated they have been taking up a second failing monetary establishment, Signature Financial institution of New York, and equally designating it as posing a systemic danger and stating the federal businesses would backstop its deposits.
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#Biden #Financial institution #Stay
Biden….. best US President since 2016. 🇺🇲
FJB! HES A FLAT OUT LIAR! SMOKE & MIRRORS! THE TAX PAYER GETS KILLED AGAIN & THE SICK FCKIN BILLIONAIRES OF SV MAKE OUT AGAIN! F THEM ALL!
Biden is a liar, these banks failed in large measure because they bought US treasuries that yielded just 2% a year or two ago, and now new issued treasuries due to record inflation yield 6%. As investors wanted to pull money out, these banks had to sell their 2% US treasuries at a big discount or loss…and became insolvent. There has never been a time in history when the Fed has printed so much money (many trillions) out of thin air and now driven inflation up at record speeds. Biden's printing money policies directly caused these bank collapses and now he is using these bank managers as "scapegoats" for his failure. Biden doesn't go onto explain that the Fed had to come up with a new policy over the weekend to allow all Banks to get full face value on their US treasuries from the Fed instead of selling them at a loss on the open market as these failed banks had to do. Without that change, the whole banking system was threatened to collapse and he knows it. That is the investigation you will never hear, but is true. Biden is the one that needs to be FIRED, not bank managers.
I hope I get to see some democrats starving in the streets soon.
Let’s go Brandon
Lol just not confidence in your president to be able to annunciate his words.
No one above the law except for me and my son hunter. But everyone else can be charged
a disaster! he is blaming someone else again! we are in trouble!
Republicans weakened financial safety regulations = THIS.
Pure manipulationthe the world is as it is thanks to this demon
I didn't hear the hyenas today they must to had the day off. Thank you, thank you, that's it everybody, thank you, thank you, please leave.
Fu$%ing lier! They crash banks on purpose and steal our money. Where did the money go? Ftx was a test to see how we would react to something like this. Every x amount of time they crash the system forcing us to rebuild our lives while they enjoy our money. Wake up America! You are being taken for a sucker!
I always get more understanding when he answered journalist's question , really glad he is not only reading some manus fast from screen.
Thanks, understand everything now 😊 very informative answers 👍
Real footage of January 6th coming out, quick hurry up and collapse a few banks we need a distraction.
Impeach. If we would take a risk as individual taxpayers, will Biden pay off our bank noes. This is USA not Venezuela!!!!.
I love the grounded reality of this channel!! Despite the recession, I’m so happy withdrawing my $78k profits out of my investment with a platform in town
If Biden President, Bails these Banks, the American people will Pay for the BAIL Out, this is because of your INFLATION Biden, you created the the Worst Inflation in 41 years, and spent money our Country didn't have!!! You are a disaster Biden!!!!! ALL your FAULT, if Biden Bails the Banks out, we the American people will pay for, all thanks to you Biden, the Worst President in History…….
Tonight it was known that dozens more banks in our country were facing bankruptcy. However, the authorities hide this fact, as panic among citizens will cause capital outflow and this will accelerate bankruptcy. Today, the state is not able to pay compensation to all citizens of these banks. I do not want anyone to suffer from such an act of our authorities. Make sure you get your savings.
Who could have ever imagined that tax the rich Joe and the Democrats would be bailing out the rich.
Again, we the poor saving the rich.
Bimbo Biden, has made a career with foreign governments for the 10%. He not a real President, and he doesn't work for America. Please Disregard this statement, from our severely incompetent President….
This is what happens when you leave democrats unsupervised! When Joe comes out and says not to worry, that's when it's time to worry…
This is what happens when you have a fake president
The US is transferring nuclear submarines to Australia. This is good. Russia can now sell nuclear submarines to Argentina, Brazil, Venezuela, Cuba, Nicaragua, South Africa, Iran, North Korea.
YOU SHOULD BE FIRED
Ummm people RETURNING to their jobs post the plandemic IS NOT JOB CREATION…PLEASE STATE THE REAL NUMBERS
Biden = THE PRESIDENTIAL DISASTER!!!
Afghanistan border inflation gas prices interest rate now the banks are failing thank you President Biden you get going on it and I'm sure you can bring us down what next?
I never believe in politicians. I took out all my hard earned savings from my bank yesterday just to be safe.
JOes got a new book coming out,….."How to destroy a country in less than 4 years"
You are a Joke Mr. President!
Why would anyone waste their time to listen to a habitual liar? Biden continues to fail this country.
Biden: "We've done everything necessary to make sure 2008 never happens again."
The People: "But it IS happening again!"
Biden: "This is different…"
The People: "How is this different?!"
Biden: "This is 2023… a totally different year… not 2008 at all 🤪"
Go home oldie
buy gold dont let trash paper in bank
This collapse is under his fake administration. If he cared so much for Americans he wouldn’t continually send money to Ukraine. This guys a complete clown