Sheila Blair, former chair of the FDIC and author of the children’s book series, “Money Tales,” which provides financial literacy lessons to children, and Steve Liesman join Meet the Press following the failure of Silicon Valley Bank.
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#SiliconValleyBank #Bank #Economy
American 🇺🇸 Government will bail out 💸 Silicon Valley Bank 🏦 and all other Banks 🏦 using Tax Payers Money 💵 while crying 😢 it’s for your own good 😊 ! Ha ! Ha ! Ha ! Hilarious 😂. Money 💵 oops 🙊 Bail Out 💸 for the Rich 🤑! Higher Taxes 💸 for the Poor ! Ha ! Ha ! Ha ! Hilarious 😂,,
Uninsured depositors? FDIC insures up to at least $250,000 per account for savings, checking and CDs. People who have investment accounts are not insured and have no business getting money from the FDIC.
The money that is paid to cover uninsured deposits doesn’t come out of the FDIC’s pockets, it comes from the bank’s assets.
This is simply poor management by the bank. It is time that they take responsibility for their actions. They make bad decisions and run the taxpayer to bail them out.. BS!!!!!
Been warning of the impending banking collapse & black swan event for the last year. No one listens.
Kramer should be sued (insider).
Media covering up the greed of the banks, the broken system. The FED initiated the collapse as they need to force unemployment up and crash all the markets.
CBDC will get forced on the public (total social control and control of ALL YOUR MONEY)
people need to wake up.
svb knew exactly what was going on.
Now 4 banks collapsed.
Silvergate
SVB
Signature
EUBank (online)
Would expect first republic to fall in next 2-3 days.
YOU WILL OWN NOTHING AND YOU WILL BE HAPPY.
Silicon Valley Bank ., a “Woke” Bank that was focused on ” Diversity, Equity, and Inclusion” instead of on Banking , Investment , and Returns. How’d that work out for ’em ?
I suppose the Biden administration will blame Trump somehow
They NEED TO GO AFTER the CEO’s and “Insiders” who sold and got out before the collapse that hurt all the little guys.
I think what they were talking about was withdrawal of deposits, not stock sales. The bond sale was on Npr Thursday.
The money companies withdrew was for running companies, paying salaries, vendors, etc.
The fallout can be bad.
And if you mean the CEO of SVB, sure, I agree with you 100%
Banks should know what they’re doing! They knew interest rates were going up.
if a bank is like a person …why couldnt they borrow in some like libor type thing ….
Privatized banks shouldn’t exist. Not enough regulations to prevent this sort of thing.
This was set up by the feds to change the ever so changing narrative , we have the most corrupt government, there coming for it all ,they want your money tooo!!
Our government helps everyone. Wait a minute they’re too big to fail. Oh yeah at least they will still be rich.
It’s ll b.s.
Didn’t have time???? Had enough time to sell $3.5m of his shares!!!
Lol are tax payers going to bail them out? 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣
Thank god its mainly democrats that get hurt by this as it was the fault of their biden government.
I am following this from outside the US and I have seen startups talking about getting calls from investors to withdraw their funds from SVB. So there must have been leaked information and time to do that. Also people were selling stocks. Also the whole blockchain hype was way overrated. Don’t bail out every bank without thinking about accountability.
We bail out depositors … why not bail out students?
These banks have to be allowed to fail. Had rates been not hiked or hiked few years down the line, you would be hearing JPMC failing and not SVB. “There’s no such thing as a free lunch” – milton-friedman
Aged like milk, bailout just announced. That 97% uninsured deposits are going to be insured.
I will be withdrawing all of my cash first thing tomorrow when the banks open
Point the finger at everyone but themselves. It was reported that executives at this bank successfully lobbied the orange clown government to ease regulations.
How does 100 cents on the dollar sound? That’s exactly what the government announced Sunday night. Signature bank has also been shut down by the government on Sunday (with financial markets closed). The government has announced that depositors at both institutions will be made whole in their entirety-including deposits in excess of the FDIC guaranteed amount; but equity and debt investors in these companies will lose their investments. That seems about right, doesn’t it? It SHOULD be music to the stock market’s ears on Monday morning. We will see. But this outcome is about as good as any investor (who doesn’t own SVB or SBNY related securities) could have hoped for.
I dont care if its happen again As long as depositor get its money by monday this bank collapse just gives u more confidence than any cryptos where all of ur money disappear and no way of getting it back. I hope people could decide better this time. Regulated vs. Unregulated. Influencer will convince u to invest in unregulated way like cryptos as long as u know what happen to FTX goodluck choice is in ur hands
recapture funds from that banks and take the bonus and assets away from the bank employees.
FED is responsible and Powell for all this. https://www.youtube.com/watch?v=vU1g7ZUQkWI&t=774s look at this interview.
Lets get honest. a bank head doesn’t know that there is a failure rate and they pass out bonuses? Take those assets back from the loosy banker and recoup instead of making the american public pay for that crap. Honestly…my mother has a market broker who charge 50 a month when that person could not even make 50a month for her long term account. Brokers and banks should be held accountable. Stop letting them keep their million dollar houses and retirement funds and take the money back for real.
My guess is the gov’t will bail them out!!!! They knew this 18 months ago!!! No one gets in trouble!!!!
They were to busy selling shares so the executives can stay rich 😂😂 the bank run was last wednesday but the ceo was selling millions in shares value 3 weeks ago. They are trying to blame the customers.
my own thoughts. It was a silicon valley bank with massive interactions with tech startups. Honestly their problems came down to one thing… they completely forgot classic economics. If you see inflation, and you see the start of fed rate hikes, you simply do not buy long bonds. Even buying 2 year bonds is probably too much, but buying 30 year bonds in that environment is insane. My guess is the people making that decision spent all their time with techies, talking about NFTs, FTX and crypto, and then said ‘ oh but we have to do something very conservative also, and so just dumped money into 30 year bonds without doing the proper classical bond analysis.
agreed, but considering that the bosses were well aware of what the FED were doing, I’m puzzled why they bought the bonds. I mean they are really sharp right?
@Darius Moon I just think in the silicon and venture capital world there is very little thought put into bonds and certainly anyone under 40 has never seen a situation with rising interest rates like we have now. almost everyone just sees bonds=safe and boring.
@Peter Sedesse In this case, SVB did have the CEO on the SF FED (right?). Inflation and rising rates were not a surprise. I need to ask our finance guy to explain it to me. I’m too slow. lol. We do hold short- and long-term bonds.
They say if the banks crash the fdic insurance will send you a check well if theres no banks who’s going to cash that check. Stocks are dropping fast.
With the pain of the soul that they let them collapse, the gangsters of the finance sector always commit fraud, failed negotiations turn everything into economic and financial chaos and a few alive settle in the same corrupt as always and look for the Pope Government / State save them, it is the same movie of the global financial collapse of 2008 and history repeats itself, it seems that the lesson was not learned and they did not remove the bad elements from the important Financial Centers in the world as it was in the US, London the European Union etc. Memories of the 2008 international financial crisis that originated with the US subprime mortgage problem and later spread, affecting not only the entire economy of that country, but also those of other nations, so Mainly, members of the European Union. How did the 2008 crisis affect the world? Families defaulted and caused heavy losses to the banks. In turn, this situation naturally generated a collapse in the portfolios of investment banks worldwide, since they were plagued by toxic subprime mortgages. The 2008 crash was primarily caused by banks’ lax mortgage lending practices. That is why it is known as the Subprime Mortgage crisis. This had a domino effect throughout the economy, causing a brutal fall in the stock market. The international financial crisis originated in bad subprime mortgage practices in the US and quickly spread to international financial systems due to the loss of confidence in the markets. What company caused the crisis of 2008? On September 15, 2008, when Lehman Brothers, the fourth largest investment bank in the United States, files for bankruptcy, overwhelmed by losses in the real estate sector. And now history repeats itself with the bankruptcy of the Silicon Valley Bank, it is not possible! It is said that there is no forgiveness when a person falls into the same bad behavior over and over again, first it will come across as gross, and then it will be negligent and stupid. What silly allegation will they make of all this? The same old gangsters from the financial system will come out with the hackneyed refrain. And so they screw up the life of the whole world where we also live in honorable and honest people, screw the corrupt.
As I have been seen in other videos and web pages. “Profits are privatized, losses are socialized.” Tax payers will be paying for this one way or another. It’s not just the government printing more money – there are economic consequences with creating money out of nothing.
They had time to give out bonuses to execs
It’s a crazy situation. I also just made a video about it explaining what’s going on. Cheers everyone!
Woke Liberals = NBC News
Time to bail out the Woke Liberals again!
The top management were selling their stocks weeks ago . . . They knew the bank was going under!
This former lady regulator caused 5.2 million people loose their houses in 2008…She was a disaster…She is the last person you want to have giving opinions today…She knows NOTHING about banking and finances, total ignorance in the flesh..
To save that bank , keep the FDIC away from it…
I would check the venture capitalists for shorting the bank stock before telling everybody to withdraw. Also check the bank execs for selling early before everyone else knew what was going on.
So there’s no more 250k limit rule woohooo!!!
SVB still owns a lot of valuable assets and will get sold.
bs. They were already working with regulators. Hence, why Yellen able to discuss how they (both banks) were bailed out.
Maybe this is a good thing !! Stop letting them mismanage . Double dip !!!
The US based investment bank Silicon Valley Bank financial group, which gave a sell report on SBI last month has *defaulted and filed for bankruptcy.*
What a joke. 😂😁😁😁
Best bank 3 days back. Now struggling to repay bond payments. 😁😁 What a gem by Forbes.
Just 4 months back JP Morgan also gave it ‘Overweight’ rating.
*Says a lot about the hollowness of these so-called Rating and Credit agencies and Financial Institutions.*
And Hindenburg …..just laugh 😀😀
Why are we bailing them out? Let Wall Street bail them out
Liers
Whatever! He’s gonna blame the fall of the bank on interest rates? Maybe get smarter staff, none of the other banks have this issue!
US GOVERNMENT DOES NOT OWN FED, FED IS A PRIVATE COMPANY OWNED BY TOP MASON BANKERS DOMESTIC AND GERMAN , DONT FOOL PEOPLE, THEY NAMED IT FEDERAL TO FOOL THE STUPID PEOPLE WHO LIVE HERE
Amen!
Could just be me but if I want my money back and the bank says hold up and is late on the request shouldn’t we tag them for insufficient funds fees like they do when we’re low on money or late on payments????
SVP had plenty of time to prepare for this . Fed has been raising interest rates since May 2022, & 1st announced its intention to raise interest rates in Q4 2021. SVP’s management have been grossly negligent in not acting sooner to reduce their treasury bond holdings. They should have been reducing their bond holdings continuously during the last 18 months.
Exactly, the Fed has been saying for the last year rates are going higher ffs.
Cheers guys. It’s a crazy situation. I also just made a video about it.. explaining what’s going on.
So everyone is going to be bailed out at SVB. ..even the big depositors….WTF?
This will encourage the banks to act rectless in the future.
Don’t worry guys. Government will rise the “ceiling “ n bail them out as usual. Enjoy yourselves.
cap punish fro bnk bosses
How many members of congress had a stake in Silicon Valley Bank? America is now officially a kleptocracy. Crony capitalism was not corrupt enough.
Crooks..bail outs coming again for the crooked rich and their friends. All funded by tax payers again.
They absolutely are not going to let up and if they do they will have a replay of the 70’s
GET YOUR MONEY OUT NOW THEY ARE GOING TO STEAL IT its all going down total colapse.
Friday they all got a bonus,Wednesday they were able to sell over a billion in stock,where’s the Justice Dept? How many in congress got a heads up,just like pre covid and were able to dump stocks? 93% of deposits were above fdic insured 250k,and i as a taxpayer have to pay to bail out woke, rich,stupid people,who don’t know what the fdic insurance is? This is a woke joke
I cant decide who is more corrupt, big business or politicians.
Sheila is one of the true heroes among our public servants.
wow. did you work for her or something? She did nothing in 2008 but help the collapse along. A toothless dog.
And yet no banker will go to jail. Welcome to America.
Sheila Blair, another one of the 2008 co-conspirators in the largest banking fraud ever perpetrated on the world, smiling and acting like she’s all that and a bag of ships.
Americans are dumb as bricks they always let the rich off the hook because they think they will be rich someday.
+++++++++++ Trump did it see it on Wikipedia Silicon Valley Bank
In 2018, President Donald Trump signed the Economic Growth, Regulatory Relief and Consumer Protection Act, which repealed regulatory protections in the Dodd–Frank Wall Street Reform and Consumer Protection Act, allowing large banks such as SVB to avoid stress testing and cash-on-hand requirements. CEO Greg Becker supported the change
Now if everybody will move his money from the small banks to the big banks, than we will have the domino effect.
I hope we will not see the domino effect, in 2008 they thought it was only one bad apple they didn’t take the time to understand the problem
+++++++++++++
Why do people with uninsured deposits expect to receive FDIC benefits?
Criminal charges will be happening believe me
How many heads going be cut off if found if no criminal charges you think
Inflation is high ? Spend less and save your money !!
NO BAIL OUT – to any Bank that caters STRICTLY to the wealthy. Their (greedy) CUSTOMERS paniced. and all deserve to lay in the bed they made. They are UNINSURED because their Deposits GREATLY EXCEED the FDIC’s 250K safety net. FDIC is to protect depositors, NOT Speculators or Corps with poor financial practices.
“U.S. cryptocurrency firm Circle said it has $3.3 billion of its $40 billion of USD Coin reserves at the collapsed lender Silicon Valley Bank.”
“SVB’s downfall has affected other firms as well. A bankruptcy document revealed that cryptocurrency lending firm BlockFi, for instance, has $227 million worth of uninsured funds allocated to a money market mutual fund offered by SVB. ”
Playing around with fake coin will never end well.
for all democrats out there, only the millionaire and billionaires of California will be taking care of by the banks. 💵 you will continue to work and be in debt…! 😧
They had time to prepare to sell shares 12 days prior
PLEASE! Jail ALL those bankers.
Or;
Confiscate ALL that they possess and throw them out to live on the streets.
SAVE the depositors.
This is starting to sound a lot like those corrupt bankers in Lebanon.
Was it just me, or was this a poorly-run interview? The interviewer had the former chair of the FDIC at his disposal, but he seemed to ask the big questions to the other guy – don’t get me wrong, the other guy did have some really good answers, but probably like other viewers, was looking for unique insights that a former, key member of the FDIC might have.
White People NEVER have enough money. SMH
Interesting how all the bank exec’s got all their stock sold though !
Leave to Steve to go down the bailout angle.
Uninsured depositors. They are uninsured because they are private equity firms that have billions in high risk capital…from the wealthy.
They risk… so they win and they lose.
FDIC is involved because a very small percentage of accounts are insured…a little trick these banks use to have slightly different rules.
All three banks got in trouble because they are highly exposed to crypto and crypto services.
This meme-based currency is a travesty. That banks are involved with it is worse.
Do better next time…and leave your pals out of it.
https://youtu.be/3d1EYyrBDpw
「天无绝人之路」
古今中外许多预言都提到过，人类在末劫将要经历一场大劫。明朝开国功勋刘伯温留下的《陕西太白山刘伯温碑记》，更是准确地预言发生当今这场大瘟疫。几乎所有的预言都有同样的告诫，无论贫富贵贱，「除非善乃能保全」。中国有一句古话：「天无绝人之路」，就是说，无论什么样的灾异，上天都会给还值得留下的人走出劫难的活路。
在二零二零年的武汉肺炎疫情中，有人感染「中共病毒」（新冠病毒），因选择三退（退出中共党、团、队组织），并诚心念颂「法轮大法好，真善忍好」九字真言，增强了自身体内的正气，摆脱了瘟疫。
三年过去，新冠肺炎在又一次变异中席卷全中国，在一次又一次的抗疫「措施」变成「错施」（错误的实施），身在灾情的每一个人是否应当有一次真正的反思呢？善恶在一念之间，祝愿您在大难中得到救度，走出瘟疫，迎来光明的新纪元！
AMERICA WILL DESTROY THE WORLD WITHOUT GIVING THEM ENOUGH TIME!
Non-white Americans and expats should start withdrawing money from US banks as things will only get worse in the times to come, especially with the de-dollarization on the cards. The US remains an illegitimate country under the illegal occupation of the whites of European breed. Despite the UN charter of human rights coming into effect in 1948, they continued with racial segregation until the late 70s, supported apartheid until the late 90s, continues to arm whites and continues with the racial abuses against non-whites and continues to let Ku Klux Klan thrive.
I bet $1000 says within 5 years NBC will go the SVB & Signature bank way.
Cash out your $ and buy gold now!
Overall USA economy is very bad and the banks are collapsing because very very weak economy in America
Biden prolly gets 10% he stole America’s money got a kickback n now we all gonna starve
Great, two liars with a microphone on television.
HSBC best performing bank stock today
Tech bros running the business .. what could go wrong
They definitely had time to sell off 3.5 million in stocks..make it make sense!
But its CEO did…. MSNBC is the worst financial misinformation network bar none. Jim Cramer less than a month ago “I see SVB as a great buying opportunity”. Listen to him, when his voice goes higher when he is pushing stock…. You know he’s being intentionally misleading…. Beady eyed weasel !!!
Peter Thiel should be imprisoned.
Sure has begun.The foundation is being shaken and market caps are being tested. It’s time to call bluffs. Sure goes to show the proper essence of proper financial management.
@Tom Fisher the Morgan Stanley portfolio manager? was on a finpod with Tate? discussing Yvonne Annette Lively
@Tom Fisher How trustworthy are these fin advisors? And how do I get a hold of your coach? Could I like look her up? I mean Yvonne Annette Lively
@Joanna Hunt Is she. I look up her name. She average like 15% now sha. Impressive
@Joanna Hunt Meeting the right one could be a hassle, in regards to the large influx of scammers, it’s right to verify licenses. Though her records seem detailed. Sure does know her stuff.
@Tom Fisher Thank you. Totally needed this. Been on red for a while now
Sure Karen . Biden is enabling injustice .
Stupid fake money
WTF, why would UNINSURED depositers get ANYTHING, it was fking UNINSURED! Do you GET IT?