Brookings Sr. Fellow and former Deputy Assistant Secretary of Economic Policy at the Treasury Dept. Aaron Klein discusses supervisory failures leading up to the Silicon Valley Bank fallout and newly announced government bailouts for the bank’s depositors.
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When they say just trust us, don’t!!!
Once you cover everyone for all of the amount than they will have to do that forevermore!!!
With the bailouts coming for SVB, that inflation will be added pressure on middle-income earners. This will an added straw to many people’s backs. For some, it will be the final one before the credit cards are maxed, and then levels of coverage get reduced. Certainly, keeping up with a home payment is one of the last things to occur. But I believe it’s going to happen. Too many pressures from government overspending, and no one truly being taxes the way they need to, to avoid ever-increasing inflation.
We might get QE yet again, and that will take time for that to pass through and impact many people. When it does, it’s going to be more pain. It never happens overnight, but the crashes come in subtle waves before the big waves wash up whoever didn’t prepare.
Great job Aaron.
I wonder if key employees at the San Francisco Fed are still working from home. They sure look like an unproductive and incompetent organization when they missed this disaster.
Asking Yellen for economy advice is like asking Biden for stair climbing advice.
High ESG rating appears to indicate failure.
I’m bout to bail out the workforce
Oh another corporate bailout. Nice.
The closure of banks for the US economy means a decrease in confidence in the system and financial institutions. Since the problem is of a systemic nature, we should expect the situation in the American and global financial systems to worsen and a new crisis is highly likely. There will be a storm in the US market, delayed since 2008 and exacerbated by the huge infusion of cheap money into the economy since that period. The EU countries will suffer the most because of their close relationship with the American economy. Today there is a war against that dirty green dollar. The whole world is shaking, the rates of all currencies are falling … the dollar is a fake piece of paper. The ruble is good, it is backed by gold, metal, oil, timber, our workers, our scientific potential. This dirty dollar is not backed by anything. There is a war going on today, against this dirty green dollar.
Democrats don't care about lives. They care about controlling you
Fine print deception. The US excels at ripping off dumb people. Just look at our 10,000 page tax code.
Thats not what happened, people pulled out of it like a exodus, and if those who have half the amounts of a bank leave, and take before anyone else does, and the bank is not backed by solid currency, then everyone else looses everything. Thats why your fake money isnt good. Bunch of imaginary pretend pyramids.
cant wait for this to happen again in 8 or so years.
Bail them out.? Why keep walking circle
It looks like SVB bet against the economy and list big
I recall the expression "privatizing the profits and socializing the losses".
Ftx collapse handicappers handlers pay your bookies and boosters.
The
Joeflation strikes again… Now watch the deflections and distractions ..and NOT one Media outlet cares SVB CEO cashed out millions right before the collapse?
Didn’t Hunter and “the big guy” have bank accounts with 175 “red flagged” -suspicious activity listings by fed regulators?
A back stop is a bailout. The funds in the FDIC pool will be exhausted by these 2 banks leaving essentially zero in its fund. If another bank chits the bed where is that FDIC cash coming from. YOU the taxpayer. Its taken years to build up that fund. Now its zero.
More red flags than a girl with blue hair.
Remember the dirtbag Trump appointed. The Gov needs to get their hands on that fella…
The biggest red flag people keep missing is all the signs that point to the end of this world that's blaring waving right in their faces.
You great Monday morning Quarterback, why you didn't speak your peace last Monday
Does everybody forget how Trump harassed the fed every single day to cut interest to zero and cutting regulations???
Great video and explanation.
Trump cut the regulations for those banks!
That's really bad!!!! Bunch of red flags 🚩🚩🚩🚩🚩🚩🚩🚩🚩🚩🚩🚩🚩🚩🚩🚩
Everybody is an expert after the fact. If you saw so many red flags before, why did you not alert people since you were well connected.