The question on so many bank customers’ minds in the aftermath of Silicon Valley Bank’s stunning collapse: Is my money safe? What is happening? A bank run on Silicon Valley Bank led the Federal Deposit Insurance Corporation to take control of the bank Friday in the second-largest bank failure in US history. The FDIC insures depositors up to $250,000, but as many larger companies used SVB as their bank, they had a lot more than that in their accounts. US customers held at least $151.
Rising interest rates meant cheap Treasury bonds SVB and other banks invested in years ago crumbled in value – last week’s bank run was triggered by SVB selling those securities at a steep loss to to help pay customers’ deposit withdrawals after people started pulling their money out of the bank. \\The Fed also said it will offer banks loans for up to a year in exchange for US Treasury bonds and mortgage-backed securities that lost value.
Nothing is safe now.
The bank failures are another shoe drop of BIDENs failed economic policies! What else has he ruined? What else will he ruin?
Under Joe Biden’s disaster but woke administration, no money is safe. 20 more months of this shit show
Joe Biden said everything was fine. Are you against Biden? Why are you spreading white supremacist conspiracy theories?
Not me, I don’t have any more money, big oil big pharma and supermarkets got all mine
Shouldn’t it be “WHY are the banks failing?” Liberals always focus on the wrong end of the problem.
The worst president in history! No one has faith in the bank system with 47 trillion dollars in interest that’s owed to China. The military is not capable of defending this country but only learning the correct pronouns. And perverts in school grooming our kids. 😭
Is my money safe? Yes. All 300 in checking. Yeah. Bring poor keeps your money safe. I have zero sympathy for billionaires. Let them eat cake.
Ask Joe Biden.
OK News orgs STOP SELLING THE SCARE & go back to just reporting it. We don't know anything about how SVG was overleveraged yet
Just the tip… told y’all this was gonna happen