From WSJopinion: The unpleasant truth—which Washington will never admit—is that SVB’s failure is the bill coming due for years of monetary and regulatory mistakes
Journal Editorial Report: Paul Gigot interviews former Trump White House economist Kevin Hassett. Images: Bloomberg News/Zuma Press Composite: Mark KellyThe Treasury and Federal Reserve stepped in late Sunday to contain the financial damage from Friday’s closure of Silicon Valley Bank, guaranteeing even uninsured deposits and offering loans to other banks so they don’t have to take losses on their fixed-income assets.
This is a de facto bailout of the banking system, even as regulators and Biden officials have been telling us that the economy is great and there was nothing to worry about. The unpleasant truth—which Washington will never admit—is that SVB’s failure is the bill coming due for years of monetary and regulatory mistakes.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
How Silicon Valley Turned on Silicon Valley BankThe fallout from Silicon Valley Bank threatens to engulf Silicon Valley—and has put the rest of the banking system on edge
Lire la suite »
Silicon Valley Bank collapse: How SVB stock price performed in 5 yearsSilicon Valley Bank had been rated as one of the top banks in America for five years before its closure by U.S. regulators in March 2023.
Lire la suite »
NYC toy store Camp begs customers for help following Silicon Valley Bank collapseCamp, a New York City-based toy company, is in hot water after getting caught up the sudden collapse of Silicon Valley Bank — and is now pleading with customers for help keeping it afloat.
Lire la suite »
Stablecoin USDC breaks dollar peg after revealing $3.3 billion Silicon Valley Bank exposureBy Elizabeth Howcroft and Rishabh Jaiswal
Lire la suite »
Silicon Valley Bank failure could wipe out 'a whole generation of startups'The implosion of Silicon Valley Bank could force hundreds of tech startups to lay off workers or shut down completely. It remains unclear how much, if any, of depositors' money will be returned.
Lire la suite »