BIDEN AND OBAMA POLITICAL FINANCIER/BENEFICIARY FAMILIES ARE THE ONES WHO ARE BEHIND ALL THIS
$100BN wiped off US banking market in SINGLE DAY as former White House adviser calls it ‘tip of the iceberg’: Bloodbath on Wall Street saw regional banks fall by up to 60% and the Big Four drawn into SVB’s collapse contagion
Trading was intermittently halted on at least 20 regional banks as the velocity of money forced regulators to intervene. The Big Four were also drawn into the bloodletting. Citigroup’s share price dived 7.45 percent, Wells Fargo sank 7.1 percent, Bank of America plunged 5.8 percent and JP Morgan fell 1.8 percent. Among the worst affected regional banks were First Republic Bank which fell by 62 percent, Western Alliance which closed with a loss of 47 percent and KeyCorp which dropped by 21 percent. The declines struck the Street despite Joe Biden making an intervention minutes before the market opened to claim that ‘Americans can have confidence that the banking system is safe’. Former Trump White House adviser Steve Moore warned that SVB ‘may just be the tip of the iceberg’, exposing a broader weakness brought about by Biden’s $4trillion COVID stimulus package.
Why was trading halted in at least 20 banks – and will contagion keep spreading, despite Biden’s assurances? Banking crisis deepens as Fed weighs ANOTHER rates hike
Financial contagion fears triggered by the collapse of Silicon Valley Bank spread on Monday as shares across the sector plunged. Here’s why trading in some banks was halted.
No more golden tickets? First Republic bank targeted the rich including Mark Zuckerberg with cut-price mortgages, oysters and Willy Wonka-themed Christmas party… before stocks plunged 65% amid SVB collapse
First Republic Bank – known as the bank for the uber wealthy – showered rich clients with lavish perks before stocks plunged 65 percent amid SVB Financial Group’s downfall.
Biden’s $4TRILLION COVID stimulus package helped create a tech investment bubble – that was punctured by interest rate rises, leaving banks with multibillion dollar shortfalls (but CEO of SVB sold $4M in shares BEFORE the crash)
NEW The collapse of Silicon Valley Bank was swift. In just a few days the 16th largest bank in the country suffered the second-worst banking collapse in US history. But the seeds of its demise were sown in its boom during the pandemic when Joe Biden’s $4 trillion COVID stimulus package flooded Silicon Valley tech firms with easy money. In January 2020, SVB had $55 billion in customer deposits on its books, but the end of 2022 that had more than trebled to $186 billion. SVB invested this money heavily in long-term government bonds and 10-year mortgage-backed securities, attracted by higher 1.5 percent yields compared to the short-term Treasurys paying 0.25 percent. But like Lehman Brothers before, this greed would come back to bite them when interest rates were hiked by the Fed to bring down rampant inflation. When interest rates rise, bond prices fall.
LIVE Silicon Valley Bank collapse LIVE: Fed says its going to review supervision and regulation of bank as it is sued by shareholders
DailyMail.com brings you all the latest from the fall of the Silicon Valley Bank.
HSBC snaps up UK arm of failed lender Silicon Valley Bank for just $1.20 in bid to prevent tech sector collapse
The collapse of tech-focused Silicon Valley Bank sparked fears across Wall Street that the banking system was being crippled by a relentless cycle of interest rate rises.
Go woke go broke! SVB hired board obsessed with diversity, invested $5BN for ‘healthier planet’ and held monthlong Pride celebration – but had NO chief risk officer for eight months last year
Silicon Valley Bank had an A rating for its Environmental, Social and Governance policies as it increased diversity and invested in sustainability startups. But for eight months last year, the bank did not have a chief risk operator as it was investing its clients’ money in low-interest government bonds and securities that saw their value fall when interest rates rose. Now, many are slamming the financial institution for focusing too much on woke policies and not enough on its own investments.
REVEALED: Former Lehman Brothers CFO was hired by Silicon Valley Bank and recently-appointed risk manager worked at Deutsche Bank when it LIED to investors and had to pay $7.2 billion
Joseph Gentile, left, left his position as the CFO at Lehman Brothers one year before it collapsed to join SVB as its chief administrative officer, while Kim Olson worked at Deutsche Bank.
Taxpayers ARE on hook for bank bailout – and could even fund bankers’ bonuses: Fed’s new $25BN loan scheme for troubled institutions risks huge losses for the government after SVB collapse – despite Biden’s claims it’s not a bailout
President Joe Biden and banking regulators insist that measures to mitigate the disastrous collapse of Silicon Valley Bank aren’t a bailout, but critics disagree.
New fears of banking contagion are triggered by crisis that killed Silicon Valley Bank, as billionaire economist Bill Ackman demands Biden ‘guarantee all deposits now’ – or else America’s economy could melt down
At least 20 regional banks were hit with trading halts this morning as turmoil sparked by Silicon Valley Bank’s collapse gripped Wall Street.
‘My family is at risk – I don’t know how this ends’: Ohio mom of 4, who’s start-up founder says SVB collapse threatens her small business – as sellers on Etsy fear they won’t be able to feed their kids or pay rent after funds were frozen
CEO of Strongsuit, Lindsey Michaelides, has been left unsure of how her business could recover following the collapse of SVB.
https://nypost.com › 2023 › 03 › 11 › silicon-valley-bank-pushed-woke-programs-ahead-of-collapse
