Before it collapsed and its billionaire depositors were bailed out by the US government, Silicon Valley Bank successfully lobbied Congress to remove regulations on it. A senator admitted, “I understand why Americans are angry, even disgusted”.
The post US Bank Bailout Benefitted Billionaires, Exposing Corruption: ‘I Understand Why Americans Are Angry’ appeared first on scheerpost.com.
By Dean Baker / Beat the Press (CEPR) There is a standard tale of politics where conservatives want to leave things to the market, whereas the left want a big role for government. The right likes to tell this story because it advantages them politically, since most people tend to have a positive view of […]
The post The Silicon Valley Bank Bailout: The Purpose of Government Is to Make the Rich Richer appeared first on scheerpost.com.
By Ralph Nader Once again, government socialism – ultimately backed by taxpayers – is saving reckless midsized banks and their depositors. Silicon Valley Bank (S.V.B) and Signature Bank in New York greedily mismanaged their risk levels and had to be closed down. The Federal Deposit Insurance Corporation (FDIC), in return, to avoid a bank panic […]
The post Ralph Nader: Reckless Capitalist Banks Rescued by Government Socialism—Again! appeared first on scheerpost.com.
By Ellen Brown / Original to ScheerPost On CNN March 14, Roger Altman, a former deputy Treasury secretary in the Clinton administration, said that American banks were on the verge of being nationalized: What the authorities did over the weekend was absolutely profound. They guaranteed the deposits, all of them, at Silicon Valley Bank. What […]
The post Ellen Brown: Banking Crisis 3.0: Time to Change the Rules of the Game appeared first on scheerpost.com.
Discover the precarious state of the banking system and the need for regulatory reform in this incisive interview with James Fauntleroy, a regular contributor to the Revolutionary Blackout Network, as he discusses the potential for a catastrophic economic crisis.
The post The Banking Crisis, Housing Insecurity and Preparing for the Coming Economic Collapse With James Fauntleroy appeared first on MintPress News.
Briahna Joy Gray and Matt Stoller discuss the collapse of SVB, and anti-trust in relation to East Palestine and the prospective merger between Jet Blue and Spirit Airlines.
The post The Roots of the Silicon Valley Bank Collapse (w/ Matt Stoller) appeared first on scheerpost.com.