Biden defends stability of US banking
system after Silicon Valley Bank’s stunning collapse
Posted By: FlyRight, 3/13/2023 9:15:21 AM
President Biden defended the stability of the US banking system on Monday morning after the stunning collapse of Silicon Valley Bank sparked fears of a major economic crisis. “Thanks to the quick action of my administration over the last few days, Americans can have confidence that the banking system is safe,” Biden said. “Your deposits will be there when you need them.” Biden’s speech came hours after federal regulators took extraordinary steps to bail out SVB and avert a meltdown in the banking sector. In a joint statement on Sunday, the Treasury Department, Federal Reserve and Federal Deposit Insurance Corp. said they were taking action “that fully protects all depositors”
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Biden's Banking Busts
3 replies
The failure of three banks in the last two weeks, including Silicon Valley Bank on Friday and Signature Bank on Sunday, is a saga of utter government incompetence. Call these bank collapses Biden's Banking Busts. The Biden administration has been obsessing on woke causes while banks teeter toward insolvency. Three days before Silicon Valley Bank collapsed, Treasury Secretary Janet Yellen cautioned that climate change puts the banking industry at risk. Yellen was in la-la land, speculating that future storms and tornadoes could diminish the value of banks' assets.
Weather is a risk, but she was oblivious to the much more immediate problem facing banks
Senate Majority Leader Chuck Schumer has rid himself of political contributions tied to the failed Silicon Valley Bank, giving the campaign funds to charity, according to multiple reports on Tuesday.
The New York Democrat received the maximum allowable individual contribution of $5,800 from former Silicon Valley Bank CEO Greg Becker in June 2021, and Schumer’s campaign benefitted from a $2,700 contribution from the failed bank’s political action committee in 2015, FEC filings show.
A spokesperson for Schumer informed news outlets on Tuesday that all political donations linked to Silicon Valley Bank have been given to charity.M
Warnings have emerged of a wider banking collapse on the backs of the failure of the Silicon Valley Bank, with a financial expert who predicted the 2008 financial crisis warning that Credit Suisse may be the next to fall after the Swiss bank’s shares fell to an all-time low on Tuesday.
Switzerland’s second-largest bank, Credit Suisse, saw its shares fall by five per cent in early trading on Tuesday to a record low for the company after confirming some $8 billion (£6.6 billion) in losses in 2022 and admitting that there was “material weakness” in its accounting system for financial reports.
McCarthy argued that Biden's $6.9 trillion budget proposal would not succeed in a House vote, saying that not even Democrats would vote for it.
"This budget talks more about equality and climate change than it does dealing with China dealing with fentanyl, dealing with putting our workforce back in the workplace. That is a real challenge," McCarthy said in an interview with Fox News. "To have a non-serious budget and for a president not to show the leadership to sit down and solve this problem early only weakens America."
Biden defends stability of US banking
system after Silicon Valley Bank’s stunning collapse 14 replies
system after Silicon Valley Bank’s stunning collapse 14 replies
President Biden defended the stability of the US banking system on Monday morning after the stunning collapse of Silicon Valley Bank sparked fears of a major economic crisis.
“Thanks to the quick action of my administration over the last few days, Americans can have confidence that the banking system is safe,” Biden said. “Your deposits will be there when you need them.”
Biden’s speech came hours after federal regulators took extraordinary steps to bail out SVB and avert a meltdown in the banking sector.
In a joint statement on Sunday, the Treasury Department, Federal Reserve and Federal Deposit Insurance Corp. said they were taking action “that fully protects all depositors”
On January 11, 2022, then Rep. Adam Kinzinger defended likely FBI cut-out Ray Epps. Kinzinger claimed Ray Epps, the one person caught on video directing Trump supporters to break into the US Capitol, did nothing wrong. But is that the truth? Was Ray Epps being honest in his testimony under oath to the January 6 Committee? Did Ray Epps, a likely federal cut-out commit any crimes on January 5th and 6th 2021?
Ray Epps is a free man. He was NEVER arrested after encouraging Trump supporters to rush the Capitol Police — And we have evidence that several Americans are now serving time for a criminal act
Last year, the Biden administration caved to public outcry and disbanded its infamous Disinformation Governance Board under its “Disinformation Nanny,” Nina Jankowicz. Yet, as explored in a recent hearing (in which I testified), the Biden administration never told the public about a far larger censorship effort involving an estimated 80 FBI agents secretly targeting citizens and groups for disinformation. Now it appears that the administration also was partially funding an “index” to warn advertisers to avoid what the index deemed to be dangerous disinformation sites. It turns out that all ten of the “riskiest” sites identified by the Global Disinformation Index are popular with conservatives, libertarians and independents.
Beating Democrats on Social Security Reform
13 replies
The thing about Social Security is that from the beginning it was designed to encourage misconceptions. It looks, on casual inspection, like a giant version of a private pension plan. You pay into such a plan during your working years, contributing to a pension fund, and when you retire you receive payments from that fund in proportion to the amount you put in. ...
I'm pretty sure that it was set up to look like an ordinary pension fund because that made it politically easier to sell. But in reality, Social Security has never been run like a private pension plan.
Following his State of the Union Address, President Biden has been on the attack over the GOPs’ many proposals to reform Social Security. Before you react to the talking points, you should ask: Is there any validity to Biden’s concerns?
To even the casual observer, Biden’s apprehensions concerning the GOP’s Social Security reform proposals appear to ignore one basic fact -- and likely the most important one. There is not a Republican plan or even lone Republican member of Congress pushing reductions to benefits on the scale that Social Security is scheduled to reduce checks going to seniors on its own when the trust fund is exhausted.
Three deep-water explosions destroyed the Nord Stream pipelines under the Baltic Sea in September 2022.
Swedish seismologists reported that one of the three explosions measures 2.3 on the Richter Scale of earthquake intensity, but this was no earthquake. It was explosion—like a gigantic undersea mine.
The explosions guaranteed that Germany and the EU would not go wobbly with regard to sanctions against Russian energy imports. The damage to the pipelines will take months to repair, and repairs are unlikely to begin until this summer. Even if Germany were to cry “uncle” as civil unrest intensifies over lack of heat and energy,
After failing to orchestrate a federal takeover of state election administration two years ago, Democrats are back with their newest strategy to seize control of America’s electoral process.
In blue state legislatures, leftists are working to advance election bills that seek to dramatically overhaul state elections by enshrining Democrat-backed voting practices into law. The widespread effort is an attempt to implement national Democrats’ HR 1 policies in states across the country
Federal agencies have 30 days to remove
TikTok from government-issued devices,
White House says 8 replies
TikTok from government-issued devices,
White House says 8 replies
The White House announced on Monday that it was giving federal agencies 30 days to remove TikTok from all government-issued devices.
Monday's move arrives as the popular Chinese-owned social media app faces increased scrutiny in Washington and in states across the country over security concerns – with critics claiming that the Chinese government could use TikTok to gain access to private user data or spread misinformation. TikTok is already not allowed on White House devices – and some other federal agencies, including the Department of Defense and Department of Homeland Security, also have similar restrictions in place.
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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.
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Asked if he regretted endorsing DeSantis for governor in 2018, Trump responded: “Yeah maybe, this guy was dead. He was dead as a doornail.
Joe Biden is making his first appearance on The Daily Show since taking office as the president of the United States — and weighing in on attacks against LGBTQ+ Americans — sitting down with actor and former Obama administration staffer Kal Penn for a segment airing Monday night. (Snip) The president continues: "I turned and looked at my dad, and he said, 'Joey, it's simple, they love each other.' ... It's just that simple. It doesn't matter whether it's same-sex or a heterosexual couple, you should be able to be married. What is the problem?" Biden made history as the vice president in
Girls Basketball Team That Refused to
Play Against a Transgender Athlete Banned
From Sporting Events 35 replies
Play Against a Transgender Athlete Banned
From Sporting Events 35 replies
A private Christian school in Vermont that forfeited a girls’ basketball game against a team with a biological male “transgender” player has been banned from participating in upcoming sporting events. The Vermont Principals’ Association, which oversees school sporting events, announced on Monday that Mid Vermont Christian School would be ineligible to participate in sporting events and other activities done through the organization.
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In his characteristically clumsy fashion, Old Joe Biden has revealed that former President Jimmy Carter has bestowed upon him a singular honor: “He asked me to do his eulogy — excuse me, I shouldn’t say that,” Biden said at a fundraiser in Rancho Santa Fe, California on Tuesday. When that day arrives, no matter how poorly Old Joe delivers what is certain to be a farrago of lies, half-truths, historical revisionism, and self-serving distortion, there will be a certain fitting aspect to the entire occasion: the previous holder of the title of Worst President in American History will be eulogized by the current holder of the title.
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Until a few months ago, Rep. Maxine Waters, (D-CA) was the chair of the House Financial Services Committee, and currently is the ranking member (snip) One would think that any sentient consumer of information – both from media and from Congressional sources – would understand the difference between silicon and silicone. (snip) Silicone... is a manmade... polymer, useful in many applications, including caulk and boob-enhancement, but is useless for manufacturing semiconductors. (snip) But somehow, I don't see her recaulking the bathrooms in her multi-million dollar Hancock Park mansion that's not even in her congresional district.
Senate Minority Leader Mitch McConnell (R-KY) was discharged from the hospital after a nasty fall last week. The incident occurred at a private dinner, and he was briefly hospitalized for a concussion. Based on reports from his staff, the leader for Senate Republicans was eager to get out of the facility. He will need to undergo physical therapy, which draws questions about the severity of his injuries, given his age (via NBC News):Senate Minority Leader Mitch McConnell, R-Ky., was "discharged from the hospital today," his communications director, David Popp, said in a statement Monday
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There has been some recent media buzz, as well as hope, about the possibility that former First Lady Michelle Obama might be persuaded to enter the 2024 presidential race. While that prospect is very unlikely – she has always rebuffed any notion that she might run for office – the enthusiasm is understandable. As the Democratic presidential nominee, or even the vice-presidential nominee, she would give Democrats their best chance at retaining the White House. (Snip) The majority of voters don’t want the 80-year-old Biden to run again, including a solid majority (57 percent) of Democratic voters. And that majority
Students at an all-female college attended by Nora Ephron and Hillary Clinton will vote on whether it can admit trans male students who were born female in a tense referendum on Tuesday.
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Mexican president says Mexico safer than US
21 replies
Mexican President Andres Manuel Lopez Obrador claimed Mexico is safer than the United States.
Obrador made the comments amid increased scrutiny over violence in his country. The scrutiny comes after the violent kidnapping of four American tourists — two of whom were murdered.
“Mexico is safer than the United States. There is no issue with traveling safely through Mexico. That’s something the U.S. citizens also know, just like our fellow Mexicans that live in the U.S.,” the president said during a daily morning press briefing, CNN reported.
He pointed to the large number of American tourists who routinely visit the country as proof