In the largest bank failure since the 2008 financial crisis, the Silicon Valley Bank was shut down by regulators. Wall Street Journal capital markets reporter Corrie Driebusch and CNBC’s Senior Markets Correspondent Bob Pisani joined Meet the Press NOW with their analysis.
» Subscribe to NBC News: http://nbcnews.to/SubscribeToNBC
» Watch more NBC video: http://bit.ly/MoreNBCNews
NBC News Digital is a collection of innovative and powerful news brands that deliver compelling, diverse and engaging news stories. NBC News Digital features NBCNews.com, MSNBC.com, TODAY.com, Nightly News, Meet the Press, Dateline, and the existing apps and digital extensions of these respective properties. We deliver the best in breaking news, live video coverage, original journalism and segments from your favorite NBC News Shows.
Connect with NBC News Online!
NBC News App: https://smart.link/5d0cd9df61b80
Breaking News Alerts: https://link.nbcnews.com/join/5cj/breaking-news-signup?cid=sm_npd_nn_yt_bn-clip_190621
Visit NBCNews.Com: http://nbcnews.to/ReadNBC
Find NBC News on Facebook: http://nbcnews.to/LikeNBC
Follow NBC News on Twitter: http://nbcnews.to/FollowNBC
Get more of NBC News delivered to your inbox: nbcnews.com/newsletters
#Bank #SiliconValleyBank #Finance
source
Did everybody hear Biden’s statement quote: “This is how Capitalism Works”. That statement couldn’t be more communist. We all tried to warn you, but the ignorance of Americans still listening to the propaganda by Corporate Media, owned by the Communist. (MSNBC, NBC, CBS, CNN, FOX, etc). And they own all Publishing Newspapers, Medical Journals, Big Tech, Google, Hollywood, YouTube, Facebook, formerly Twitter, etc. it is all lies.
Given the current inflationary environment, it's unlikely that the stock market will experience significant gains in the near future. However, this doesn't necessarily mean that it's a bad time to consider purchasing stocks. It's important to manage your expectations and understand that it may take some time for the market to rebound. I personally recommend waiting until the economic climate stabilizes in areas of concern before making any major investment decisions. Until then, it's best to steer clear of the turbulence and maintain a cautious approach >.
HERE COMES THE GREAT RESET SHEEPS YOU USELESS EATERS
svb gav unsecured loans lol thats why they took a hit. its not all banks lol. quit trying to push nation wide banks. its just svb
Millions of Americans in the University are waiting to be drafted for the war and die for the corrupt Zelensky. Joe Biden will print more currency for Ukraine and let US banks go out of business.
Simpsons predict another! 😉
Never forget, assets. Also come with asset management costs to which cash is not a liability, because if they had the cash they would never have failed
And thanks to the news, everybody who gets the news late is going to help continue to trigger the collapse
Bonds
Notice how the Federal government didn't prevent this even with all its regulatory power and control over private business.
No more control won't prevent this from happening and no the solution is not to give the government more power, that is exactly how monopolies form to begin with thanks to lobbying and the ever increasing power of the government.
Trumps deregulation of banks in 2018 is responsible for this.
Imagine covid still worse for 5 years…..
It's a crazy situation. I also just made a video about it.. explaining what's going on. Cheers — everyone
Everything working according to script 🇺🇲👏👏👏
Basic banking failure.
Svb failed to maintain asset liability match. Short term funding financing long term htm assets is a disaster in itself. Basic accounting failure.
My wife's boyfriend keeps saying this bank failed because it was run by diversity hires. I'm scared
Guess where the banks aren't collapsing? Yup, you're right, Russia.
This is what happens when all the folks with money who invest are investing in houses instead of businesses. The people over extending on investments who need that support fail.
You need to push the financial investors out of the housing market and back into the businesses. You need people investing in jobs, products and services instead so people HAVE money to spend on these things.
You need to cap the rent rates so households have money to buy things. Make it less lucrative to invest in housing so families have somewhere to live instead.
You need people owning their own homes so they'll invest in products and services to upgrade them. Landlords do not spend money on this for their tenants. I don't mean grant more mortgages. I mean we need the housing prices to come down back to reality.
When are you folks in government going to learn? If people want to make money…make them make businesses, invest in people, services, products. Not private wealth.
Margin call
The Biden Washington administration will bail SVB out. Because (i) these guys create the algorithms/apps that manipulate public information including censorship and voting corruption to their political advantage. (ii) They create the animation distractions that blind ordinary to the excesses of corrupt socialism.
Democrats are doing great hey guys? 👋
any usa bank is a fraud…same as nutheads like FTX, their ceos live in posh house and yachts and i am not stupid to put a single cent to these bunkheads
Is it really so hard for guests to use a pair of headphones with a microphone attached.
Janet Yellen said the banking industry is sound. Lol.
Exactly who was this bank giving loans to? How does a top tier bank….tank in use a few days?
White Collar Crime 🙀
Me having my money in China: 10% of interest per year for just having money in the bank is great 👍😂
Sanctions are working this was suppose to happen to russia seems it the other way round
Here we go again on the precipice of a full scale banking collapse and possible economic depression. Be proactive and wise and choose a contingency banking plan. There is always the mattress, tree trunk or the back yard if you have one. The banking system ain’t giving you shiggidy interest wise for you hard earned money!!!
Her mic is trash 🗑️ can barely hear
Politics definitely played a role in this collapse. Instead of focusing on risk management, they were busy with diversity, climate change and other nonsense.
Everything is going well according to our plans for new world order cobra commander gi joe don't stand a chance 😂
Go woke go broke economics haha. Like FTX 😂 and supporting lockdown and free stuff
It’s Jews
So the feds are discussing bailing out all depositors. Well billionaire Mark Cuban is one. So bail out the billionaires sure
Skill issue
Banks need to stop gambling with depositors money and maintain 25% of deposits available
"Show Me The Money"
The US economy is the foundation of empire at this point. The sooner it falls apart the better for the world.
America is ending uncle sam usd is going down soon disaster ll hit them and world power is taken out from usa.
Can't wait for it all earth is enslaved by them and their usd
😂😂😂😂
USA KMKB
6:42 – So… the Bank has failed ( past tense )… yet they are asking " is it 2 Big to do so "…? I always turn in to Chuck Todd to calibrate the low end of the IQ Scale…
Stock market crashing, but regurgitate your liberal Nazi gods. And your bumbling moron. Stating the conomy is doing great as everyone is suffering!!
WHAT IF MAJORITY OF AMERICANS WITHDRAW ALL THEIR BANK SAVINGS TOMORROW?
If a large number of Americans were to withdraw all of their savings from banks at once, it could potentially have significant implications for the banking system and the broader economy.
Banks use customer deposits to fund loans and investments, so a sudden and significant decrease in deposits could limit their ability to lend money and finance economic activity. This could lead to a contraction in credit markets, reduced investment, and slower economic growth.
Furthermore, if everyone were to withdraw all their savings at the same time, there may not be enough physical cash to meet the demand, which could lead to long lines at banks and ATMs, and potentially even a cash shortage.
It's important to note, however, that it's unlikely that a large number of Americans would suddenly withdraw all of their savings at once. Even during times of economic uncertainty, many people rely on their savings for emergencies and daily expenses and may not have the means to withdraw all of their funds at once.
In any case, it's important to be cautious and informed when making decisions about your finances, and to consider the potential risks and consequences of any actions you take.
WHAT IF AMERICANS LOSE THEIR TRUST ON BANKS?
In general, people's confidence in banks can be influenced by a variety of factors, such as economic conditions, bank policies, and regulatory oversight. If there is a perception that a bank is in financial trouble or is engaging in risky behavior, it could undermine people's trust in that bank and potentially the banking system as a whole.
That being said, it's worth noting that banks in the United States are subject to regulatory oversight and are required to hold a certain amount of capital to protect against losses. Additionally, the FDIC insures deposits up to a certain amount, which can help to mitigate the risk of bank failures.
Overall, the level of confidence that Americans have in banks may vary depending on a range of factors and individual experiences.
WHAT IS THE MAXIMUM AMOUNT THE FDIC PAY FOR EACH ACCOUNT?
The Federal Deposit Insurance Corporation (FDIC) insures deposits up to $250,000 per depositor, per insured bank. This means that if an insured bank were to fail, each depositor's account would be covered up to $250,000, including principal and accrued interest.
It's worth noting that the $250,000 limit applies to each depositor's accounts at a given bank, so if you have multiple accounts at the same bank, they are added together, and the total amount insured is up to $250,000. Additionally, if you have accounts at different banks, each bank is separately insured up to $250,000 per depositor.
The FDIC provides a comprehensive guide to deposit insurance on their website, which includes information about what types of accounts are covered and how to maximize your insurance coverage. If you have specific questions about your FDIC insurance coverage, it's a good idea to consult with a financial advisor or contact the FDIC directly.
HYPOTHETICALLY, WHAT IF THE SAVINGS WORTH $45M, HOW MUCH WILL THE FDIC REIMBURSE THE LOSES?
If an individual had a savings account worth $45 million at an FDIC-insured bank that failed, the FDIC would only insure up to $250,000 of the total amount. This means that the depositor would be reimbursed up to $250,000 and would lose the remaining amount that exceeded the insurance limit.
It's worth noting that there are ways to potentially increase the amount of FDIC insurance coverage for large deposits, such as by spreading the funds across multiple accounts or by using different ownership categories. However, it's important to consult with a financial advisor or contact the FDIC directly to understand the rules and limitations of deposit insurance.
In any case, it's generally recommended to spread large deposits across multiple FDIC-insured banks to maximize FDIC insurance coverage and reduce the risk of losses due to bank failures.
Almost took a Tech job for an ESG startup with unexplainably high VC funding. But when I did due diligence, discovered a whole raft of 'ESG' start-ups, each with some obscure i-technology claim, but no certified bench test results! No pilot plants! Nothing! Then you realize that's YOUR own life savings, being diverted into ESG vaporware speculation.
Still with the "too big to fail"? If a bank is too big to fail then who is taking on that burden? Last time it was the taxpayers who paid for that failure.