Biden Reassures Americans: Banking System is Safe, Depositors Protected
President Joe Biden addressed the nation Monday morning regarding the recent collapse of Silicon Valley Bank and Signature Bank, two of the nation’s largest banks.[0] In his remarks at the White House, Biden reassured Americans that the banking system is safe and that their deposits would be secure.[1] He also proposed a plan to strengthen […]
Continue reading Biden Reassures Consumers & Markets: “Depositors Will Have Access to All of Their Money
President Joe Biden sought to reassure jittery consumers and markets on Monday morning, saying that Americans can have “confidence” in the banking system after the collapse of Silicon Valley Bank. Speaking at the White House, the president is attempting to ease public concerns after the failure of the two banks raised fears of a full-blown […]
Continue reading Biden Assures Americans of Safe Banking System After Silicon Valley Bank Collapse
President Joe Biden has assured Americans that the banking system is safe and their deposits will be there when they need them, following the collapse of Silicon Valley Bank.[0] In a statement from the White House, Biden assured the public that small businesses across the country who deposit accounts with these banks can “breathe easier, […]
Continue reading Biden Administration Reassures Americans of Bank Deposit Safety, No Taxpayer Losses
President Joe Biden on Monday sought to reassure Americans that their bank deposits will be safe and available when needed. Following the sudden collapse of Silicon Valley Bank, the Biden administration took quick action to protect depositors and American businesses by guaranteeing customer deposits and creating the Deposit Insurance National Bank of Santa Clara to […]
Continue reading Premier Li Qiang Seeks to Reassure the Private Sector and Strengthen US-China Cooperation
China’s newly appointed Premier Li Qiang has emphasized the importance of cooperation between China and the United States, stressing that both countries benefit from each other’s development.[0] He was officially named as premier on Saturday after being appointed by the 14th National People’s Congress (NPC).[1] At a press conference held after the NPC session, Li […]
Continue reading Silicon Valley Bank Collapses: FDIC to Guarantee Deposits up to $250,000
This week, Silicon Valley Bank (SVB), a major lender to tech startups, collapsed and was taken over by federal regulators after facing a sudden bank run and capital crisis.[0] Founded over a poker game in 1983, SVB quickly became the bank for the burgeoning tech sector in the area and the people who financed it.[1] […]
Continue reading Biden Vows to Hold Parties Responsible for SVB Collapse, Treasury Sec. & NEC Director Reassure Americans of Financial System Safety
On March 13, 2023, President Joe Biden vowed to hold those responsible for the failure of Silicon Valley Bank (SVB) and Signature Bank accountable while reassuring Americans that their deposits are safe.[0] SVB had been the 16th-largest bank in the U.S. before its shutdown Friday after it lost $2 billion in a liquidity crisis.[1] Treasury […]
Continue reading California Regulators Shut Down Silicon Valley Bank: How and Why it Collapsed
On Friday, March 10, 2023, California regulators shut down Silicon Valley Bank (SVB), one of the largest banks in the US and the go-to lender for tech startups.[0] This marked the biggest bank failure in the country since the Great Recession and sent shockwaves through the global economy.[1] SVB was founded in 1983 in Santa […]
Continue reading Preparing for an Inevitable Recession: 75% of Americans Worry About 2023
With economists having trouble predicting when a recession will hit, many Americans are bracing for the inevitability of one.[0] A Real Estate Witch poll found that 75% of Americans worry a recession will occur in 2023, and 69% believe one is already here.[0] Economists, too, are expecting a recession in the next 12 months, according […]
Continue reading Li Qiang Elected China’s Premier, Faces Steep Learning Curve in Reviving Economy
BEIJING – Li Qiang, the former Communist Party chief of Shanghai, was officially elected China’s premier on Saturday, taking over the country’s No.2 post and becoming the first premier in the history of the People’s Republic to never have served previously in the central government. The 63-year-old Li Qiang won the post by a vote […]
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