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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.
The Federal Reserve is not working for the people but for wealthy individuals and corporations that can afford to have a say in the rules.
The post Private Opulence and Public Squalor in the US 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.
By Dean Baker / Beat the Press (CEPR) An item in Ezra Klein’s NYT column yesterday really grabbed by attention. Ezra cited a Wall Street Journal column that claimed that the Federal Reserve Board’s stress tests would not have detected Silicon Valley Bank’s (SVB) problems, because its stress tests did not consider interest rate risk. This struck me as […]
The post ‘Regulation’ Is Not a Mantra appeared first on scheerpost.com.
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.
By Ellen Brown / Original to ScheerPost On Friday, March 10, Silicon Valley Bank (SVB) collapsed and was taken over by federal regulators. SVB was the 16th largest bank in the country and its bankruptcy was the second largest in U.S. history, following Washington Mutual in 2008. Despite its size, SVB was not a “systemically […]
The post Ellen Brown: The Looming Quadrillion Dollar Derivatives Tsunami appeared first on scheerpost.com.