President Biden delivers remarks on the collapse of Silicon Valley Bank after Treasury Sec. Yellen promised there would be no bailout.
RELATED: Fed Chair Jerome Powell appears before Senate Banking Committee
Federal regulators said Sunday they were taking steps to ensure that depositors of the failed Silicon Valley Bank will have access to all their money on Monday. The Federal Reserve, the Treasury Department and the Federal Deposit Insurance Corporation announced that the bank’s troubles posed a systemic risk to the financial system, allowing regulators to take the unusual step of guaranteeing the deposits.
“This step will ensure that the U.S. banking system continues to perform its vital roles of protecting deposits and providing access to credit to households and businesses in a manner that promotes strong and sustainable economic growth,” the agencies said in a joint statement. The regulators also said they were taking over a second failing financial institution, Signature Bank of New York, and similarly designating it as posing a systemic risk and stating the federal agencies would backstop its deposits.
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#Biden #Bank #Live
Trump: People say I’m the worst president ever.
Joe Brandon: Hold my beer.
@Linda Walters America lost when Biden was installed…There is no getting over that Linda…
@Gayla Wilmoth Go home…You’re drunk…
Everything is fine.. nothing to see here …..😂
The reporters saw him walking away at the end but still wouldn’t stfu lol
You don’t think the president should answer any questions about this? The job of the press is to get answers.
@Pneumatic Tube yup. Today the wranglers were not on duty
How dare reporters ask the President a question about the second biggest bank collapse in American history without submitting their questions in advance.
10% to Big Guy
Long time ago, going up to 14% now.
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Does anyone else hear all the gaslighting ?
You know where banks AREN’T CLOSING? Yup, your right, Russia. Way to go Brandon!
Brimming with confidence.
“The owners of the dollar are preparing a global denomination,” the economist reports, ” The economist suggested that preparations for monetary reform are underway now, but noted that he does not see serious signs of its preparation.
At the same time, he said that the global monetary reform is being prepared in the West – it will be associated with the introduction of digital currencies into circulation. According to the professor, the “owners of money” will first “hook up” millions of people with digital money, and then replace cash dollars with electronic ones. The US Federal Reserve will continue to issue them, but with this transition, the US authorities will have a much more powerful control tool.Withdraw your savings from banks while it is possible do not believe Biden!
Biden….. best US President since 2016. 🇺🇲
Let’s go Brandon
😂
I always get more understanding when he answered journalist’s question , really glad he is not only reading some manus fast from screen.
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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.
Again, we the poor saving the rich.
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…
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”
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 🤪”