Banks Archives - Page 2 of 3

One of America’s Largest Banks Is on Verge of Collapsing

First Republic Bank has seen its share prices plunge to new lows this week, taking the institution to the verge of collapsing. America's economy is still reeling from the sudden collapse of Silicon Valley Bank (SVB) and Signature Bank last month. However, it does appear that the financial system has…

Top Economist Issues Warning about Banking Crisis: ‘The Worst Is Ahead of Us’

A top U.S. economist has issued a warning to the American people regarding the banking crisis. Nouriel Roubini has warned that the worst is yet to come for the U.S. economy in the wake of the recent banking turmoil. According to Roubini, the crisis could lead to a serious credit…

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…

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…

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…

Top Audit Firm Gave SVB, Signature Bank Clean Bill of Health Just Days before Collapse

One of America's leading audit firms, KPMG, is defending giving both Silicon Valley Bank (SVB) and Signature Bank a clean bill of health just days before they collapsed last weekend. The banks imploded when customers rushed to withdraw their savings in panic-fueled bank runs. The two banks collapsed shortly after…

Biden and Schumer Took Cash from Silicon Valley Bank Affiliates before Collapse

Democrat President Joe Biden and Senate Majority Leader Chuck Schumer (D-NY) were among several high-profile politicians who took cash from Silicon Valley Bank (SVB) affiliates before the financial institution dramatically collapsed last week. Political action committees and individuals associated with the now-defunct SVB have donated extensively to leading politicians. Silicon…

Banking Crisis: Credit Suisse Shares Plunge to Record Low, Trading Halts

Shares in Swiss banking giant Credit Suisse have plunged to a record low amid fears the bank will be the next financial institution to collapse. Shares tumbled by as much as 30 percent on Wednesday after Saudis pulled funding. Trading in the Swiss bank’s stock was halted several times on…

Elon Musk Issues Warning: ‘Lot of Current Year Similarities to 1929’

Twitter boss Elon Musk has issued a grim warning about the state of the economy. President Joe Biden and the Democrats have flooded the economy with unlimited cash-printing since he came into office. The non-stop spending has led many experts to start warning our leaders of what may be coming.…

Biden: Silicon Valley Bank Investors Will ‘Lose Their Money’

President Joe Biden has said that investors in the collapsed Silicon Valley Bank will "lose their money" because "that's how capitalism works." In a prepared address, Biden assured the American people that he has confidence that the U.S. banking system is safe. The president outlined his administration’s plan surrounding Silicon…