President Joe Biden addressed the nation to assure Americans that the banking system is safe after the collapse of Silicon Valley Bank and Signature Bank. In his speech, he highlighted the immediate action that his administration has taken. #CNN #News #cnnbusiness
“I believe our banking institutions are more dangerous to our liberties than standing armies.”
Thomas Jefferson
@William Russell Exactly!
Timeless quote.
@David C I’ve got money I make WAY more than you do, guy who is always commenting on YouTube on primarily Democratic leaning conversations.
CEO’s should be held accountable, not making millions as others go broke.
@CaretHalfgem fact is California lost 3 millions since 2020.
Sources are everywhere. You are just DENIER
@TurboFreak , yeah buddy… With huge housing developments for all those people leaving. Entire areas that were barren, now converted to single family homes and apartments. I’ll remember that next time I drive past it.
Bank executives making terrible investments with other people’s money.
*They invested 77% of depositors money in long term securities when all economists predicted that the FED would raise interest rates,this is stupid and irrisponsible.*
@علي I just got done watching Patrick Boyle’s new video. He talks about this directly: Silicon Valley Bailout
The love deregulation but when banks inevitable fail, they always saw it coming and blame everyone but the idiots who did the deregulation.
@Steve Bee you clearly intend to disrespect because you continue to do it. And I didn’t say I know nothing about Bitcoin; I merely demonstrated that you do not, and I have sense.
Hi@Antonio! My mexican amigo! Hope you are doing well today!! We sure had some good times yesterday! Vivi la Mexico!
@Antonioamigo!! Did you see bitcoin? I thought it was gonna get back down to $22k but it’s just too strong. Biden’s bank problems are really good for Bitcoin. I will buy one of your burritos when Bitcoin gets back to $40k!!
We certainly don’t need a repeat of the banking crisis when bankers and stock brokers got bonuses as their institutions went bankrupt before the gov’t propped them up. It’s crazy when the incentive is to make bad investments and get a bonus for it.
They used Obama bailout money to pay those bonuses, and then Obama gave them more money, which they then used to pay more bonuses, then Obama gave them more money and they ultimately pulled themselves out of the crisis. It doesn’t help when the government rewards that type of behavior.
You people voted for the vice president of the 2008 crash. What do you expect will happen?😂🤣😂🤣
@Hifin Sword only one can hope
We are going down faster than God speed
This is actually being handled really well. Glad the investors aren’t getting bailed out.
@H2o Echo do you see it the same way for other businesses? Like if it wasn’t a bank would you be mad that a business used the money it earned to pay it’s bills/ taxes?
@S D Now holiday in Zurich and next to Milan shopping shopping shopping hahaha. You stay where you are work hard and have fun with yourself.
Can’t believe we are back in this situation again. What a mistake Trump’s administration made to roll back these regulations, especially after the lessons we were supposed to have learned in the last financial crisis. This is why you don’t vote for charlatans and criminals.
This is not Trump. This is the fed skyrocketing interest rates really quickly and banks making risky environmental, social and governance (ESG) loans. At the end of the day, risk is what matters. Throwing out large sums of money to startups focused on environmentalism, diversity, equity and inclusion which have very shaky business plans is very bad. Lesson learned.
@A T it’s a domino affect. Because the padt administration rolled back these regulations that’s what further allowed this to happen. That’s why we have regulations. When we don’t we get what we saw in 2008.
This has been handled swiftly and intelligently. Apparently, the market agrees, as the DOW is up 200 points right now.
Stock markets rigged
@marco s It all IS
Do what iceland did and actually start throwing corrupt bankers in jail
@Geoffrey schermerhorn and expecting something different lmao
@Jen Kem so you are in favor of Trump then?
@Rett Bull don’t let that teleprompter fail. He goes on a stuttering, side eyeing, forgetting what he saying mess. Lol
Iceland is a wasteland isnt it? Nobody can go there because it is nothing but ice. Greenland is the palace to go to for trees and no ice.
This is innovative. Previous administrations would have used tax dollars to bailout bond and equity holders, including management, while uninsured depositors would have been left holding the bag. Dark Brandon has reversed all of this. I never would have expected this. Right is right. The man deserves some kudos.
@NAVSO FOUR Looks to me like you just have a problem with Obama and probably have nutty ideas about economics, such as thinking abolishing the Fed is a good idea or that JM Keynes is relevant or the source of everything wrong in the world. I’m familiar with this song and dance. This is politics masquerading as economics. You say I am digesting Keynesian pills without thought, which is ironic because I have been studying Austrian econ for two decades. lol
@NAVSO FOUR lol okay.
Biden’s confidence in the banking system is the same as our confidence in his bike abilities.
Management will be fired.
However. Unlike when low level management or working employee is fired, the upper management will still receive bonuses and severance. Because for some reason even if upper management screws up big time, they still get contract honored. Where the little guys contracts get broken.
Those people need to go to jail
Thank you Joe, finally an administration that has done the people right. I am willing to bet they will investigate and hold those responsible accountable. 👍🏼🙏
@ryan radcliffe like you don’t know what woke is. 🙄🙄🙄
Signature Bank was woke. And as we all know, everything woke goes broke!!!
They should be fined for causing this, NOT getting bonuses. That is criminal fraud. Take away their bonuses and arrest these criminals.
Hahaha😂🤣😂🤣 it’s almost like America voted for the vice president that also caused 2008
@Dan Swaney 🤣😂🤣😂🤣😂🤣😂 say that again but listen to yourself. You act like they just can’t do that LMFAO
More inflation…😡
Love the way this administration did handle it. It was quick, nice and proper. I bet it will be scrutinized. Thanks, Joe!!!!
LETS ALL TAKE A MOMENT TO THANK THE BIDEN ECONOMICS FOR CAUSING THIS PROBLEM, AND FOR PUSHING FOR A NEW 6.8 TRILLION DOLLAR BUDGET TO MAKE IT WORSE 🤷♂️
I was told that the CEO of CVB sold $5 Million in CVB stock just a week or so prior to the crash. With that being Insider Trading, and allegedly a crime, will he be prosecuted, like a person of a lower financial class would be?
The fin-Market;s have underperformed the U.S. economy as fear of inflation hammers the prices of stock;s and bonds. My portfoliio of $750k is down to $592k any recommendation;s to scale up my return;s during this crash will be highly appreciated.
@leon paco Isabel Linda Dueri
saw her profile on google
@Sasha Ann Thanks, I merely looked her up on Google and was highly impressed by her credentials; I got in touch with her because I need all the help I can get. I just set up a phone call.
When the president of the United States steps in front of the cameras to announce “The banks are safe. Your money is safe”, its time to panic.
If you wanna be successful, you most take responsibility for your emotions, not place the blame on others. In addition to make you feel more guilty about your faults, pointing the finger at others will only serve to increase your sense of personal accountability. There’s always a risk in every investment, yet people still invest and succeed. You must look outward if you wanna be successful in life.
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