On Thursday’s broadcast of CNBC’s “Squawk on the Street,” Federal Reserve Bank of San Francisco President and CEO Mary Daly stated that she was “not regularly aware” of the problems with Silicon Valley Bank (SVB) and said that doing this
On Thursday’s broadcast of CNBC’s “Squawk on the Street,” Federal Reserve Bank of San Francisco President and CEO Mary Daly responded to a question on why the weaknesses in Silicon Valley Bank weren’t identified by stating that while there are
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
During an interview aired on Friday’s edition of Bloomberg’s “Wall Street Week,” Harvard Professor, economist, Director of the National Economic Council under President Barack Obama, and Treasury Secretary under President Bill Clinton Larry Summers stated that the amount the FDIC
On Wednesday’s broadcast of CNBC’s “Power Lunch,” Rep. Josh Gottheimer (D-NJ) stated that we still don’t know what regulators did over the weekend that Silicon Valley Bank collapsed. Co-host Tyler Mathisen asked, “Chairman McHenry was incensed, I guess is a
On Tuesday’s broadcast of the Fox Business Network’s “Cavuto: Coast to Coast,” Sen. Steve Daines (R-MT) criticized regulators at the San Francisco Federal Reserve for focusing on climate change and pointed out that the bank characterized “financial risks from climate
On Friday’s broadcast of Bloomberg’s “Balance of Power,” Rep. Brad Sherman (D-CA) stated that the FDIC insurance that was used to backstop depositors at Silicon Valley Bank (SVB) and that federal officials have said could be used in the future
On Wednesday’s broadcast of “PBS NewsHour,” Harvard University Economics Professor and former Chief Economist at the International Monetary Fund Ken Rogoff said that the Federal Reserve and Treasury Department have signaled that they’ll “protect depositors, even ones with billions of dollars
On Wednesday’s broadcast of CNN’s “Situation Room,” Harvard Professor, economist, Director of the National Economic Council under President Barack Obama, and Treasury Secretary under President Bill Clinton Larry Summers said that the failure of Silicon Valley Bank “was a failure
Following the collapse of Silicon Valley Bank, reviews of the company’s internal practices have revealed that loans to insiders tripled to $219 million before the bank failed.
On Monday’s broadcast of the Fox Business Network’s “Evening Edit,” Rep. Dan Meuser (R-PA) reacted to reporting from The Wall Street Journal that was confirmed by ABC News that the Federal Reserve knew of problems with Silicon Valley Bank (SVB) back in 2019
In the aftermath of the collapse of Silicon Valley Bank (SVB), the 16th biggest bank in the country, many are left wondering what went wrong. Both current and former employees have stated that the bank’s support of remote work is a contributing factor.
On Friday’s broadcast of CNN International’s “Quest Means Business,” Rep. Jim Himes (D-CT) stated that there is blame to be laid on the depositors in Silicon Valley Bank who were backstopped. Himes said, “[W]e saw irresponsibility on the part of
On Friday’s “PBS NewsHour,” New York Times columnist David Brooks argued that the federal government wouldn’t have been so quick to act if Silicon Valley Bank (SVB) was located outside of Silicon Valley and the federal government acted so quickly
On Friday’s “PBS NewsHour,” New York Times columnist David Brooks stated that the federal budget has the same sort of reliance on low interest rates that Silicon Valley Bank (SVB) had and this is especially a problem since “inflation is
On Friday’s broadcast of CNN International’s “First Move,” Harvard University Economics Professor and former Chief Economist at the International Monetary Fund Ken Rogoff wondered how the San Francisco Federal Reserve didn’t know about the problems inside Silicon Valley Bank and
On Friday’s broadcast of HBO’s “Real Time,” host Bill Maher stated that the collapse of Silicon Valley Bank (SVB) is “connected” to and “the result of” the massive deficit spending during the coronavirus pandemic because the fact that “uncle sugar
SVB Financial Group, the former parent company of the collapsed Silicon Valley Bank, filed for 11 protection on Friday in New York bankruptcy court.
Indian technology minister Rajeev Chandrashekhar said on Thursday that Indian tech startups had over $1 billion worth of deposits in California’s Silicon Valley Bank (SVB) when the bank was shut down by regulators on March 10.
On Thursday’s “Hugh Hewitt Show,” Rep. Ro Khanna (D-CA) stated that there were some companies who had deposits in Silicon Valley Bank (SVB) that were “malpractice” and “financially irresponsible.” Khanna said SVB depositors should have been protected and some of
Sen. Mark Warner (D-VA) asked Janet Yellen about censorship of online communications to prevent a “social media internet-based bank run.”
On Wednesday’s broadcast of NBC’s “MTP Daily,” Rep. Josh Harder (D-CA) argued that covering deposits above the $250,000 limit in the case of Silicon Valley Bank (SVB) means “the genie is out of the bottle” and the limit on deposits
On Wednesday’s broadcast of MSNBC’s “All In,” House Financial Services Committee Ranking Member Rep. Maxine Waters (D-CA) stated that while the uninsured depositors at Silicon Valley Bank deserved to be helped, maybe those “who are thinking that they got special
The People’s Bank of China (PBOC), the country’s central bank, said on Wednesday that it will begin trimming back the number of high-risk financial institutions in China to avoid the risk of “bombs” like Silicon Valley Bank (SVB).
The implosion of Silicon Valley Bank (SVB) is sending shockwaves around the world, reaching all the way to Africa, where fragile tech startups are worried that more banks will fail, destroying their supply of much-needed venture capital.
On Tuesday’s broadcast of the Fox News Channel’s “Your World,” Rep. John Garamendi (D-CA) stated that the backstopping of Silicon Valley Bank’s depositors could end up being passed on to the consumers and we don’t know how big the backstopping
On Tuesday’s broadcast of CNN International’s “One World,” Harvard University Economics Professor and former International Monetary Fund Chief Economist Ken Rogoff stated that fallout like the collapse of Silicon Valley Bank (SVB) was the “inevitable” result of fiscal and monetary
On Tuesday’s broadcast of MSNBC’s “Morning Joe,” Rep. Ro Khanna (D-CA) acknowledged that the fees for the Deposit Insurance Fund that is being used to backstop Silicon Valley Bank depositors are ultimately paid by the customers, not the banks. Khanna
Silicon Valley essentially put the cost of ordinary corporate treasury prudence onto the banking system and got rewarded for it when the government broke its own rules and agreed to back even the largest deposits at Silicon Valley Bank.
On Tuesday’s broadcast of MSNBC’s “Chris Jansing Reports,” White House National Economic Council Deputy Director Bharat Ramamurti denied that President Joe Biden bears blame for the collapse of Silicon Valley Bank (SVB) because spending by the Biden administration lead to inflation
Warnings have emerged of a wider banking collapse, with a leading financial expert warning that Credit Suisse may be the next to fall.
Equity giants Apollo Global Management Inc. and Blackstone Inc. have reportedly stepped forward to examine a book of loans held by Silicon Valley Bank (SVB), the failed California lender seized by federal regulators last week.
On Monday’s broadcast of CBS’ “Red & Blue,” House Financial Services Committee Ranking Member Rep. Maxine Waters (D-CA) acknowledged that banks could pass the cost of backstopping the depositors of Silicon Valley Bank (SVB) on to consumers, but there isn’t evidence
On Monday’s broadcast of CBS’ “Red & Blue,” House Financial Services Committee Ranking Member Rep. Maxine Waters (D-CA) stated that she hasn’t come to any conclusions on whether regulatory rollbacks under the Trump administration caused the collapse of Silicon Valley Bank
On Monday’s “CNN Newsroom,” Deputy Assistant Secretary for Economic Policy at the Department of Treasury during the Obama administration and Brookings Institution Senior Fellow Aaron Klein stated that there were bailouts of the depositors of Silicon Valley Bank (SVB) and
The Federal Deposit Insurance Corporation (FDIC) plans to try and auction off the collapsed Silicon Valley Bank (SVB) for a second time, according to the Wall Street Journal, after the first attempt failed on Sunday.
On Monday’s broadcast of MSNBC’s “Morning Joe,” Steve Rattner, who served as counselor to the Treasury Secretary in the Obama administration, stated that most of the risky behavior by Silicon Valley Bank (SVB) “was hiding in plain sight” and should have
On Monday’s broadcast of the Fox News Channel’s “Faulkner Focus,” Rep. Chip Roy (R-TX) stated that the inflation that has required the interest rate hikes that have caused the collapse of Silicon Valley Bank and issues around banking “is being
“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.
Sen. Tom Cotton (R-AR) said in a tweet Monday that the Biden administration refused to commit to not bailing out Chinese companies that invested in Silicon Valley Bank (SVB) with American taxpayer money.
