After guaranteeing deposits at Silicon Valley Bank and Signature Bank, on Mar. 21, 2023, Janet Yellen said that ‘similar actions could be warranted if smaller institutions suffered deposit runs that posed the risk of contagion.’ Images: Reuters/Getty Images Composite: Mark KellyFinancial regulators have ignored their post-2008 rule book to contain the latest banking panic. And on Tuesday Treasury Secretary Janet Yellen tore it up by announcing a de facto guarantee of all $17.6 trillion in U.S.
“Our intervention was necessary to protect the broader U.S. banking system,” Ms. Yellen told the American Bankers Association convention. “And similar actions could be warranted if smaller institutions suffer deposit runs that pose the risk of contagion.”
opinion here you have the poster child for pin heads.....
opinion Better hope your bank is one of the first to fail. The FDIC will run out off money sometime. Of course the Administration will print more till it's worthless. But isn't it Congress's job to spend money?
opinion Ask how happy you are to hear the federal government is going to “insure” your bank deposits. Then think about how happy you are that it’s insuring your retirement through Social Security.😳
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opinion Typical radical Left-wing insanity...this action green lights financial recklessness.
opinion Banks guaranteed a full depositor bailout will become less risk-averse and more risk-loving.
opinion All deposits insured? Really? Fiscally impossible. Or, just print more money; that will work🙃
opinion Billionaires have so few benefits now.
opinion Wait, what do you mean essentially? Are they or aren’t they? 1 or 0? Yes or No?