On Monday’s broadcast of C-SPAN’s “Washington Journal,” Moody’s Analytics Chief Economist Mark Zandi stated that ultimately, “we all bear the cost” of backstopping the depositors of Silicon Valley Bank and Signature Bank because banks will pass part of the cost
The chances of the United States falling into a recession in the next 12 months have increased to 35 percent because of the “near-term uncertainty around the economic effects of small bank stress,” Goldman Sachs warned Thursday.
The U.S. banking system “remains sound” and Americans can feel “confident” about their deposits with no need to panic over recent events, Treasury Secretary Janet Yellen is set to tell the Senate Finance Committee on Thursday.
“I need to make some money,” former Rep. Barney Frank (D-MA) told the Financial Times while defending his role as a board member of Signature Bank, which was shut down by New York state regulators on Sunday.
Former Rep. Barney Frank (D-MA) is at the center of another financial crisis — this time on the board of now-defunct Signature Bank, which was closed by New York State and taken over by federal authorities on Sunday.
“We could be on tenterhooks all week waiting to see who else is getting taken out,” Breitbart Economics Editor John Carney told Fox Business host Larry Kudlow.
