Yellen Leaves Door Open for Bailout of
Uninsured Deposits at Silicon Valley Bank
Posted By: earlybird, 3/12/2023 3:30:07 PM
Treasury Secretary Janet Yellen appeared to hint on Sunday that the government might step in to fund uninsured deposits at Silicon Valley Bank, the tech-sector-focused bank that collapsed last week when panicked customers suddenly withdrew tens of billions of dollars. The Federal Deposit Insurance Corporation, which took the bank into receivership on Friday, insures deposits up to $250,000. On Friday, the FDIC said all insured deposits would be available on Monday morning. Most Silicon Valley Bank deposits, however, are above the insured limit. The FDIC said on Friday that it had not determined the amount of uninsured deposits but said depositors with amounts in excess of $250,000 would get
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Prince Andrew has been left “bewildered” that he has not yet received any inheritance from Queen Elizabeth II, royal sources have claimed. After the Queen’s death last September, her £650 million Duchy of Lancaster estate was automatically left to King Charles. However, Prince Andrew, 63, is said to have told friends he feels “despair” that the King has not shared any of his new wealth among his siblings. According to the Daily Mail, Prince Andrew feels an amount of “resentment” at the situation.
Several billionaires issued warnings over the weekend after the Silicon Valley Bank suddenly collapsed late last week and forced the federal government to step in.
Billionaire investor Bill Ackman wrote Saturday that the federal government had about two days to fix the problem—by Monday morning. He noted that a number of depositors may not see their money because it wasn’t insured; the Federal Deposit Insurance Corporation (FDIC) notes it insures $250,000 per depositor, per insured bank for each account.
EXCLUSIVE: Dramatic New Video Shows Efforts
to Revive Lifeless Rosanne Boyland on
Jan. 6, 2021 12 replies
to Revive Lifeless Rosanne Boyland on
Jan. 6, 2021 12 replies
A dramatic new Metropolitan Police Department bodycam video shows how officers and medics from three police agencies worked for 15 minutes to try to revive a lifeless Rosanne Boyland after she was dragged feet-first through the Lower West Terrace tunnel on Jan. 6, 2021.
The urgent efforts to restart Boyland’s heart were a stark contrast to the previous 10 minutes outside the tunnel, where protesters begged police for medical help, but their pleas were ignored. Boyland, 34, of Kennesaw, Georgia, was the last of four people who died at the U.S. Capitol that day.
Treasury Secretary Janet Yellen appeared to hint on Sunday that the government might step in to fund uninsured deposits at Silicon Valley Bank, the tech-sector-focused bank that collapsed last week when panicked customers suddenly withdrew tens of billions of dollars.
The Federal Deposit Insurance Corporation, which took the bank into receivership on Friday, insures deposits up to $250,000. On Friday, the FDIC said all insured deposits would be available on Monday morning.
Most Silicon Valley Bank deposits, however, are above the insured limit. The FDIC said on Friday that it had not determined the amount of uninsured deposits but said depositors with amounts in excess of $250,000 would get
This week, the go-to bank for US tech startups came rapidly unglued, leaving its high-powered customers and investors in limbo.
Silicon Valley Bank, facing a sudden bank run and capital crisis, collapsed Friday morning and was taken over by federal regulators.
It was the largest failure of a US bank since Washington Mutual in 2008.
(Snip)
Founded in 1983, SVB specialized in banking for tech startups. It provided financing for almost half of US venture-backed technology and health care companies.
While relatively unknown outside of Silicon Valley, SVB was among the top 20 American commercial banks, with $209 billion in total assets at the end of last year, according to the FDIC.
SANTA CLARA, Calif.—Silicon Valley Bank collapsed Friday in the second-biggest bank failure in U.S. history after a run on deposits doomed the tech-focused lender’s plans to raise fresh capital.
The Federal Deposit Insurance Corp. said it has taken control of the bank via a new entity it created called the Deposit Insurance National Bank of Santa Clara. All of the bank’s deposits have been transferred to the new bank, (snip)
Insured depositors will have access to their funds by Monday morning,(snip)Depositors with funds exceeding insurance caps will get receivership certificates for their uninsured balances, meaning businesses with big deposits stuck at the bank are unlikely
A class action suit filed in California alleges LG Electronics USA, Inc. sold gas range stoves in the United States without properly notifying customers of toxic emissions prior to their purchases.
The suit comes as the industry faces attacks and efficiency proposals by the Biden administration that would remove up to half the current gas range ovens on the U.S. market.
A California woman who purchased an LG gas stove from Costco in October 2022 claims in the suit that she was unaware of the “risks” associated with the product before purchasing.
“Ms. Sherzai relied on the representations on the marketing materials disclosing risks,” read the lawsuit.
Tiger Woods' former longtime girlfriend is asking a judge to remove her from a nondisclosure agreement that she claims the 15-time major champion forced her to sign when their relationship started in August 2017, according to court records obtained by ESPN.
The civil complaint filed Monday in the Circuit Court of the 19th Judicial Circuit in Martin County, Florida, is the latest in a monthslong dispute between Erica Herman and the star golfer.
Herman believes that the NDA is "invalid and unenforceable" and that a trust controlled by Woods is wrongfully using it against her. Herman's attorney is citing a federal law(snip)that prevents the enforcement of nondisclosure agreements in
A defendant in the Proud Boys trial over Jan. 6, 2021, charges moved on March 9 to dismiss the case, after some footage from the day of the breach was shown for the first time.
Dominic Pezzola is one of the Proud Boys members on trial for obstruction of an official proceeding and other charges. The newly disclosed footage, shown on Fox News this week, “is plainly exculpatory,” Pezzola’s lawyers said in the new motion.
“It establishes that the Senate chamber was never violently breached, and—in fact—was treated respectfully by January 6 protestors,” the motion reads.
Former President Donald Trump easily won the CPAC straw poll on Saturday, with Florida Gov. Ron DeSantis a distant second..and some guy named Perry Johnson came in third.“Who the [bleep] is Perry Johnson?” was a commonly tweeted sentiment as the straw poll results were released, with Trump getting 62%, DeSantis getting 20%, Johnson getting 5%, former South Carolina Gov. Nikki Haley at 3%, and several other contenders with one percent or a fraction of a percent.
Dr. Redfield's Bombshell Testimony
23 replies
Yesterday, we witnessed the ex-director of the CDC, under oath, directly blame Dr. Fauci and the US Government for the deaths of millions of people. However, if you went to the headlines of Google News - there was nary a news story. I guess Google felt it wasn’t important enough to warrant above-the-fold status. Seems like they had to make room for important news items, like the ones above.
A keyword search of Redfield on Google news did come up with the following stories.(snip) The actual testimony of Dr. Redfield was explosive. Yet, none of these headlines bely the gravity of Dr Redfield’s testimony. Dr. Redfield directly linked gain-of-function research
For two years now, we have heard about an insurrection that everyone knows was bogus. The media deliberately lied in its vain attempt to ruin President Donald John Trump — one in a series of attempts by the real deniers of election results. Tucker Carlson’s revelation that the Capitol Police incited peaceful protesters has been dismissed by a media obsessed with lying. The key to Pravda — the Soviet version of propaganda — was not to get people to believe it, but to get people to stop following the news. Judging by television ratings(snip) it is working. It indoctrinates Americans to believe they are powerless
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“Everything Everywhere All at Once” was named best picture at the 95th Academy Awards on Sunday, capping off an improbable awards season run by winning the movie business’s highest honor.
The film, a gonzo adventure about a Chinese-American laundromat owner grappling with an IRS audit and inter-dimensional attackers, earned seven statues, including original screenplay and directing honors for its creators Daniel Kwan and Daniel Scheinert (collectively known as the Daniels). The victory is a triumph for A24, the indie studio that pushed the zany film to an impressive $100 million at the box office, a stunning achievement at a time when the market for arthouse movies has shriveled.
President Biden on Monday blamed the collapse of Silicon Valley Bank and closure of Signature Bank on former President Trump's 2018 decision to scrap some Obama-era banking regulations. "Unfortunately, the last administration rolled back regulations," Biden said. Biden also offered assurances that the U.S. banking system is "safe and secure." "Americans can have confidence that the banking system is safe," Biden said in remarks at the White House before leaving for a three-day visit to California and Nevada. The president said he planned to ask Congress and bank regulators to restore Obama-era rules that were put in place to prevent
Even as Jan. 6 Narrative Implodes, Pence
Still Blames Bad Orange Man for Endangering
His Life 28 replies
Still Blames Bad Orange Man for Endangering
His Life 28 replies
Mike Pence is running hard to be the Mitt Romney of 2024, the controlled opposition establishment Republican nominee who will run for president and lose gracefully. Or if he somehow wins, he will do the Left’s bidding, but in a restrained, ostensibly conservative way. The formerly genuine conservative Pence showed that again Saturday at the Gridiron Club dinner in Washington, an annual event where speakers usually keep things light. The famously stone-faced former veep may have been incapable of cracking jokes, but he sure went all-in on making his remarks as heavy as possible and signaling that he would happily carry water for the Left,
‘As bad as we thought’: James Comer
says docs show ‘Biden family was getting
money from CCP’ 25 replies
says docs show ‘Biden family was getting
money from CCP’ 25 replies
House Oversight Committee chair James Comer claimed Sunday on Fox News that he has evidence proving that President Joe Biden’s family has profited from the Chinese Communist Party.
Watch part one below:(Video) Appearing on Fox News’ “Sunday Morning Futures,” he was asked by host Maria Bartiromo what he’d learned in the last two weeks since he was on the show.
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“We’ve had a very good two weeks. We are finally having people cooperate with us. I think we all know the Biden administration is stone-walling. Janet Yellen is stonewalling, not turning over the bank violations,” he replied.
“But fortunately, since we’ve last spoken, we actually have bank records in hand.
Former President Donald Trump is intensifying his attacks on Florida Gov. Ron DeSantis, calling him disloyal and saying that his political career would have been over had he not endorsed his ultimately successful 2018 campaign.
“He was dead as a dog, he was a dead politician. He would have been working perhaps for a law firm or doing something else,” Trump told a small group of reporters aboard his plane on Monday afternoon en route to Iowa, where he was to make an appearance that evening.
Asked if he regretted endorsing DeSantis for governor in 2018, Trump responded: “Yeah maybe, this guy was dead. He was dead as a doornail.
Another so-called “conspiracy theory” appears to be coming true — this time, regarding voting and the 2024 elections.
A coalition comprised of more than 50 left-wing organizations — including AARP, the ACLU, the Freedom From Religion Foundation, the League of Women Voters, and the NAACP — is pushing the Biden administration to increase voter registration and turnout among new immigrants and those who are currently in federal custody awaiting their trials ahead of the all-important 2024 elections. The Leadership Conference on Civil and Human Rights published a progress report titled “Strengthening Democracy,” in which it calls on federal agencies to “work quickly to do everything they can” to
The Biden Economy — hailed Monday morning by Presidentish Joe Biden as “strong” — seems like it’s falling apart, everything, everywhere all at once. NYSE halted trading of Charles Schwab, whose shares fell by more than 20%, and even a few Etsy sellers have been impacted by the fallout of Silicon Valley Bank’s (SVB) collapse.
Schwab’s fall was the firm’s “most ever on an intraday-basis,” even as company execs assured investors in a press release that “Schwab’s long-standing reputation as a safe port in a storm remains intact.”
Overall, trading of shares in over 30 banks was halted on Wall Street Monday morning, as the entire sector suddenly looks like a risk
Former White House press secretary-turned-MSNBC host Jen Psaki revealed on Monday that President Joe Biden is a "night owl."
According to her, his early morning remarks at 9 a.m. show just how "vital" he considers the Silicon Valley Bank collapse to be. It is important to note President Biden does nothing at 9 a.m. He is a night owl. So, the fact that he is doing this at 9 a.m. anyway speaks to how vital the White House recognizes it is for him to have his voice out there conveying that to the American public," she said on Morning Joe, prior to the president's speech.
Psaki added that
Stanford University has apologized to a Trump-appointed judge who faced an embarrassing protest by a woke student mob - joined by the school's dean of 'equity' - after he was invited to speak at the college's Law School.
Judge Kyle Duncan, from the fifth circuit of appeals, was ambushed by associate dean of equity, diversity and inclusion Tirien Steinbach during a discussion Thursday night.
Steinbach - a former ACLU lawyer who previously defended free speech - initially claimed Duncan had a right to express his views. But she then launched into an impassioned six minute speech - which she had written down - condemning his life's work.
The Trump-appointed judge who was heckled by law students at Stanford and the school's dean of inclusivity has spoken out to slam their ultra-woke stunt and attack on his free speech, saying none of them are fit to work in America's legal system.
Fifth Circuit Court of Appeals Judge Kyle Duncan had been invited to speak about 'COVID, Guns and Twitter' at Stanford Law's Federalist Society last week.
When he got there, he was interrupted and 'mercilessly' mocked by a group of liberal students. They were egged on by the school's dean of 'equity', Tirien Steinbach, who took to the lectern in an effort to humiliate Duncan, a conservative judge
Tirien Steinbach helped derail a talk by a federal judge. The school says the talk's organizers should contact her for 'support.' Hours after Stanford University apologized to Fifth Circuit appellate judge Kyle Duncan for the disruption of his talk last week, administrators encouraged members of the law school's Federalist Society chapter, which sponsored Duncan's visit, to "reach out" to the same administrators—including the diversity dean—who aided and abetted the melee.
Jimmy Kimmel once again proved to be ratings poison, with Sunday night’s Oscar telecast drawing a pathetic 16 million (give or take) viewers.
These early numbers could increase when the final numbers hit Tuesday.Regardless, Roger Friedman is embarrassing himself with his “Oscars are Back!” headline. How could the Oscars be back when last year 16.6 million tuned in, and that was a catastrophe—when that was the second-lowest viewership in Oscar telecast history?
Here’s a look at the last decade:
2013: 40.3 million
2014: 43.7 million
2015: 37.3 million
2016: 34.4 million
2017: 32.9 million