Banking Crisis Archives - Page 2 of 4

JPMorgan CEO Warns Banking Crisis ‘Not Over Yet’: ‘There Will Be Repercussions for Years to Come’

JPMorgan Chase CEO Jamie Dimon has warned that America is facing "unprecedented" risks from the current economic climate and cautioned that the banking crisis "is not over yet." In last year's letter to investors, Dimon correctly forecasted the risks from the combination of inflation, war, and Covid fallout. In his…

America’s Biggest Banks Experience Major Surge in Withdrawals

America's largest banks experienced a major surge in withdrawals last week as the banking crisis appears to be deepening. The 25 biggest banks in the United States saw a huge $90 billion outflow of deposits last week. The news is a sharp reversal from the prior week where larger financial…

Fed Chair Powell on SVB Collapse: Regulators Were Surprised by Bank Run

Federal Reserve Chairman Jerome Powell has commented on the collapse of Silicon Valley Bank (SVB) by revealing that regulators were caught off guard by the speed of the bank run. On Wednesday, Powell criticized the management of SVB for poor risk management. He alleges that bank executives sought to grow…

Elon Musk Humiliates Biden for Trying to Brag about Admin: ‘The Banks Are Melting’

Twitter CEO Elon Musk has fired back at Democrat President Joe Biden for trying to boast about his administration's alleged achievements. Biden said in a series of posts: "Today at the White House, we honored generations of female visionaries – known and unknown – on whose shoulders we stand. "We…

Former FDIC Chair Speaks Out: Biden Admin Overreacted with SVB ‘Bailout’

The former chair of the Federal Deposit Insurance Corporation (FDIC), Sheila Bair, has criticized the Biden administration’s "bailout" of Silicon Valley Bank (SVB). Bair denounced the Biden admin's decision to guarantee all deposits at the failed SVB, labeling the move an “overreaction.” Bair made the comments during a recent appearance…

‘Disinformation Experts’ Blame ‘Conspiracy Theories’ and ‘Far-Right Websites’ for Silicon Valley Bank Collapse

So-called "disinformation experts" are claiming that "conspiracy theories" being spread by "far-right websites" and "doomsday preppers" are to blame for Silicon Valley Bank's (SVB) recent collapse. The claim comes just days after Democrat Senator Mark Kelly (D-AZ) called for censorship on social media to bury reports on the banking crisis…

Biden Urges Congress to Ban Executives of Collapsed Banks from Industry

President Joe Biden has called on Congress to toughen penalties against the executive of collapsed banks. Biden recommended that executives of failed banks should be banned from working in the banking sector again. The White House released a plan to hold senior management more accountable when their financial institutions collapse…

Banks Are Borrowing Billions to Maintain Liquidity amid Banking Crisis, Fed Data Shows

U.S. banks are borrowing billions of dollars to maintain liquidity following the recent collapse of Silicon Valley Bank (SVB), data published by the Federal Reserve shows. Banks have borrowed a combined total of $164.9 billion from the central bank in recent weeks amid the banking crisis, according to Fed statistics released…

Sen John Kennedy: Silicon Valley Bank Crisis Could Have Been Avoided

Sen. John Kennedy (R-LA) has argued that the Silicon Vally Bank (SVB) collapse, and the resulting banking crisis, could have been avoided. The senator stated during a speech on the Senate floor Wednesday that the bank’s executives and federal regulators should have done their job on risk management. Kennedy emphasized…

Ted Cruz Slams Biden for Bailing Out ‘Corrupt’ Silicon Valley Bank: ‘Like Bonny & Clyde’

Republican Sen. Ted Cruz (R-TX) has blasted Joe Biden over the Democrat president's efforts to bail out the recently collapsed Silicon Valley Bank (SVB). Cruz slammed SVB as "corrupt" and warned that the Biden admin's bailout of the bank sets a dangerous precedent that will "incentivize" future bad behavior from…