After the collapse of the Silicon Valley Bank and Signature Bank, President Biden called on Congress to make it easier for regulators to hold failed banks accountable. Former Vice Chair of the FDIC Thomas Hoenig joined the Meet the Press NOW roundtable with his analysis.
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#SiliconValleyBank #Biden #Finance
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Wait, he just said “that’s capitalism” working. Didn’t know you can get a bailout in capitalism.
Hold it! I have known that interest rate hikes were coming for two years. I work as a waiter. What is the excuse for DVB management? (Not one Canadian bank needed a bailout in 2008-09, and we haven’t seen a bank go under in 40 years. Come up and see how we do things.)
The banking systen is sound?! Including MY bank account? The lies are outrageous!!!
So is Biden suggesting that banks should be punished for buying US treasuries ? Would you trust Biden to run a doughnut stall ?
He cant read a cue board, nor can he remember foreign leaders names…
The banks have invested in Treasuries. These are long term investments, supported by the entire economy. The easing of credit across the world was clearly a short term measure. As this short term measure created long term inflation, sensibly the world banks acted to curb inflation, which impacts most harshly on the poorest in society, since they have the least disposable income.
The quantitative easing was not created to provide windfall cash for the well off to speculate on asset portfolios, so if wealthier people have made speculative investment choices it is the their choice to accept loses.
Dont speculate with money that you cannot afford to lose….
All the rate hikes(Fed) in the world can't do anything if the Treasury prints into infinity and Congress spends like a drunk sailor.
Biden is miss managing the USA 😂😂
Corruption is good!
– Gordon Gecko 🦎 🏦 💰 💸
It's not the high rates that got us into this mess, it's that we had ZERO rates for over a decade. Come on, FED, you have one job!
High inflation, hig interest rates, major debt, printing g more like crazy and sending money to ulkraine like crazy. Don't t sound good
$30B sounds like nothing for Zelenskyy. To finance a war you need to keep it coming.
They can take their interest rates up their ask. Stunning that the banks and card companies enslave vulnerable people to indentured servitude. There is no way people can pay more interest hikes. Anything above 7% across the board should be considered involuntary servitude. Take your hikes and burn them. Most of the people who are actually hurting are being burdened more. The system is a failure.
Just let the riches eat the riches, don’t bail them out.
When you have Yellen taking orders from Biden what could possibly go wrong?
More people are moving fund to Crypto currency. Now bank can't even hold up anymore. 😂
No, VCs was the bank run. They have so much money they almost caused the collapse of the US economy.
Nothing accidental here.
Let us please FIRE the non federal FED and be done with this. We will crash whether we keep this sham of a fake bank or not at this point. We survive without them by going totally national. We keep them and it is " good night sweet prince".
What nonsense.
Svb made some bad loans
Yeah but it was also important to put a lid on inflation what you wanna pay $60 for a dozen eggs?
Shocked? Interest rates/inflation has only been talked about since the reckless "American Rescue Plan" was instituted and that was trillions of dollars ago. The blame for the coming collapse can be solely placed on this Administration and its reckless spending. Economics 101!!!!!!!!
Failure of the illegitimate regime…
The crime is that federal government covered accounts for more than $250,000
Wasn't that the plan…?
Fed gambled and keeps gambling, now its coming back to get them. Banks failing, reserve raising rates further getting huge blowback for even the consideration. Maybe trying to force a recession and force folks out of work wasn't a wise move.
Biden should face penalties for his policies and taking 10% of the bribes that his drug addict son got from foreign businessmen.