It's crystal clear now: More banks are going to fail
are among the major names that cratered on Monday morning as investors grow anxious about banks' ties to the tech industry or which may be sitting on large unrealized losses in their bond portfolios, two factors that catalyzed the fall of SVB.
Though depositors have been made whole in both recent failures, banks and their shareholders should be prepared for the government to let them fail, and should not count on anything resembling a 2008-style bailout. "Let me be clear that during the financial crisis, there were investors and owners of systemic large banks that were bailed out, and we're certainly not looking," Yellen said in regards to a possible bailout."And the reforms have been put in place means that we're not going to do that again."
"Investors in the banks will not be protected," Biden said."They knowingly took a risk and when the risk didn't pay off, the investors lose their money. That's how capitalism works."
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
JPMorgan, PNC among suitors for SVB Financial in deal excluding SVB Bank - AxiosJPMorgan Chase & Co and PNC Financial Service Group Inc are among those in talks about acquiring SVB Financial Group in a deal that would exclude its commercial banking unit Silicon Valley Bank that is currently under U.S. control, Axios reported on Monday citing sources.
Read more »
SVB collapse: The Treasury must make whole SVB investorsThe Treasury Department is right to ensure that investors at Silicon Valley Bank have access to their deposits.
Read more »
Kevin Cramer insists banks 'don't need any more regulation' following SVB collapseSen. Kevin Cramer (R-ND) rebuffed calls for increased banking regulations in the wake of Silicon Valley Bank's collapse.
Read more »
SVB collapse means more stock-market volatility: What investors need to knowHow regulators respond to the 2nd largest bank collapse in U.S. history holds key to market reaction after investors opted to 'sell first, ask questions later.'
Read more »
What You Need to Know About the Collapse of SVB and SignatureOver and over again we find this essential truth: Once banking was deregulated, the next crash becomes inevitable.
Read more »