Yellen Says US Could Back All Deposits at Smaller Banks if Needed to Prevent Contagion

U.S. Treasury Secretary Janet Yellen says the federal government could guarantee all deposits of smaller banks if they “suffer deposit runs that pose the risk of contagion.” The government recently protected all deposits of Silicon Valley Bank and Signature Bank after they failed. U.S. Government Ready to Guarantee More Deposits if Needed U.S. Treasury Secretary [...]

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Silicon Valley Bank Failure Highlights Dangers of Fractional-Reserve Banking

After the failure of Silicon Valley Bank (SVB), a great deal of Americans are starting to realize the dangers of fractional-reserve banking. Reports show that SVB suffered a significant bank run after customers attempted to withdraw $42 billion from the bank on Thursday. The following is a look at what fractional-reserve banking is and why [...]

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Report: Silicon Valley Bank Under FDIC Auction as Calls for Bailout Grow

The U.S. Federal Deposit Insurance Corporation (FDIC) began an auction process for Silicon Valley Bank (SVB) late Saturday night, according to reports. Final bids are due by Sunday afternoon. Unnamed sources indicate that the FDIC is seeking to close the deal promptly after California regulators closed the bank and placed it into FDIC receivership on [...]

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What is the global financial crisis and its impact on the global economy

The Global Financial Crisis was a widespread economic downturn that began in 2008 and resulted from the collapse of the housing market and investment banks.

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Elon Musk Criticizes Federal Reserve’s Data Latency and Calls for Immediate Rate Drop Amidst Banking Chaos

Amidst the chaos in the U.S. banking sector, Elon Musk, the CEO of Tesla and owner of Twitter, has been critical of the country’s central bank. Musk insists that the U.S. Federal Reserve is operating with “way too much latency in their data,” and he insists that the central bank needs to drop the federal [...]

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Elon Musk Shares ‘Massive Incentive to Move Money out of Bank Accounts’

Tesla and Twitter CEO Elon Musk has shared a “massive incentive” to move money out of bank accounts, citing a significant interest rate gap created by the U.S. Treasury and the Federal Reserve. “As more people & companies realize this, bank depositor flight will accelerate to extreme levels, even for banks that are ‘too big [...]

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