as seen on tv
Senator
At 930 pm this evening (45 minutes ago) wire services reported that the US government changed its mind. ALL depositors at failed SVB will get all their money back. Especially the ultra rich customers with those $10 million certificates of deposit, which aren't supposed to be guaranteed.
This is contrary to Janet Yellen's " no bailout" press conference yesterday.
Oh, and banking regulators ALSO seized "Signature Bank" ($110 billion) today. Because it's insolvent too. The 3rd largest bank failure in US history. SVB was number 2. That was 48 hours ago.
The Biden administration is reminding everyone not to panic. Employment numbers are great. Inflation might be tamed soon. The $31 trillion federal debt is not a problem. The proposed 2024 budget with massive spending and tax increases will probably help. Our leaders are releasing truckloads of cash from the federal "strategic cash reserves" like they did with gasoline just before the 2022 mid-term elections.
DO NOT PANIC !!! This is a presidential order!
This is contrary to Janet Yellen's " no bailout" press conference yesterday.
Oh, and banking regulators ALSO seized "Signature Bank" ($110 billion) today. Because it's insolvent too. The 3rd largest bank failure in US history. SVB was number 2. That was 48 hours ago.
The Biden administration is reminding everyone not to panic. Employment numbers are great. Inflation might be tamed soon. The $31 trillion federal debt is not a problem. The proposed 2024 budget with massive spending and tax increases will probably help. Our leaders are releasing truckloads of cash from the federal "strategic cash reserves" like they did with gasoline just before the 2022 mid-term elections.
DO NOT PANIC !!! This is a presidential order!
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