Tag Archives: Silicon Valley Bank

First Citizens Bank Buys Failed Silicon Valley Bank

NPR reports: North Carolina-based First Citizens will buy Silicon Valley Bank, the tech industry-focused financial institution that collapsed earlier this month, rattling the banking industry and sending shockwaves around the world. The sale involves the sale of all deposits and loans of SVB to First-Citizens Bank and Trust Co., the FDIC said in a statement late Sunday. Customers of SVB …

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Cultists Lie That Failed Bank Donated $73M To BLM

Popular Information reports: Tuesday night on Fox News, host Jesse Watters asserted that Silicon Valley Bank (SVB) “donated $74 million to Black Lives Matter.” That was why, Watters claimed, federal regulators did not pursue more aggressive oversight of SVB’s business practices. According to this theory, SVB was treated with kid gloves because it was “woke.” Watters’ claim is false. The …

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DOJ Opens Investigation Into Silicon Valley Bank

The Washington Post reports: The Justice Department has opened an investigation into the collapse of Silicon Valley Bank and the actions of its senior executives, according to a person familiar with the matter who spoke on the condition of anonymity to describe an investigation still in its early stages. Financial regulators closed the bank, popular among tech firms and start-ups, …

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Fox News Host Blames Bank Collapse On Pride Month

“So this stupid bank in California didn’t see inflation coming. They’re about as smart as the Fed Chair. So when the Fed Chair finally raised rates, the bank got crushed. Well, why weren’t they paying attention? Silicon Valley Bank is a woke Biden bank. They were holding seminars on Lesbian Visibility Day and National Pride Month. Now, if you want …

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Biden: “Rest Assured That US Banking System Is Safe”

NBC News reports: President Joe Biden said Monday that Americans should “rest assured” after his administration acted to ease uncertainties about the banking system in the wake of the collapse of Silicon Valley Bank last week, the second-largest bank failure in U.S. history. The president spoke about the actions taken by his administration to give Americans confidence that the banking …

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Feds Move To Protect Deposits At Silicon Valley Bank

The Washington Post reports: The Biden administration announced Sunday night that all depositors at the failed Silicon Valley Bank would have access to all their money on Monday morning, approving an extraordinary intervention aimed at averting a crisis in the financial system. Authorities said they were also extending protection to depositors of a second bank, Signature Bank of New York, …

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Yellen: No Govt Bailout For Silicon Valley Bank [VIDEO]

CNBC reports: After regulators shuttered Silicon Valley Bank and seized its deposits Friday, U.S. Treasury Secretary Janet Yellen said Sunday that she has been working “to address the situation in a timely way,” but that a major government bailout is not on the table. “Let me be clear that during the financial crisis, there were investors and owners of systemic …

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Silicon Valley Bank Fails, Biggest Failure Since 2008

The New York Times reports: If there is one enduring axiom in banking, it is this: Don’t run out of money. Silicon Valley Bank, a lender to some of the biggest names in the technology world, did just that on Friday, becoming the largest bank to fail since the 2008 financial crisis. The move put nearly $175 billion in customer …

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