Yellen Admits CCP-Linked Silicon Valley
Depositors Will Be Bailed Out by U.S. Banks
Posted By: Dreadnought, 3/16/2023 2:12:23 PM
Treasury Secretary Janet Yellen admitted during a Thursday Congressional hearing that Chinese Communist Party-linked businesses that had deposits in Silicon Valley Bank (SVB) will be made whole by the American banking system. Senator James Lankford (R., Okla.) pressed Yellen on the matter during a Senate Finance Committee hearing held days after Silicon Valley Bank collapsed. “It has been reported publicly that SVB had a large number of Chinese investors that are there, including some companies that were directly connected to the Chinese Communist Party,” Lankford said. “So what I’m asking is: will my banks in Oklahoma pay a special assessment to be able to make Chinese investors whole in Silicon Valley Bank?”
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TULSA, Okla. -
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