The White House makes sweeping moves following two historic bank failures in just a matter of days. What is President Joe Biden announcing, and how do lawmakers and investors react? Rep. Mike Flood (R-Neb.), a member of the Financial Services Committee, joins us to discuss the factors behind the sudden bank collapse and give his…
Capitol Report: Biden Attempts to Calm Nation Over Fears of Banking Crisis; Biden Changes Course on Fossil Fuels
March 13, 2023
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LIVE 6:30 PM ET: NTD Evening News (March 13): Biden Approves $8B Oil Drilling Project in Alaska; Rep. Comer Subpoenas Bank Records in Hunter Probe
The Biden administration on Mar. 13 green-lit a scaled-back version of the $8 billion Willow oil field development project, angering climate activists while delighting lawmakers from Alaska who have been battling to secure the project. Vested Chief Economist Milton Ezrati tells NTD’s Stefania Cox the Federal Reserve is now caught in a bind after Silicon…
LIVE NOW: NTD Evening News (March 13): Biden Approves $8 Billion Oil Drilling Project in Alaska; Rep. Comer Subpoenas Bank Records in Hunter Probe
The Biden administration on March 13 green-lit a scaled-back version of the $8 billion Willow oil field development project, angering climate activists while delighting lawmakers from Alaska who have been battling to secure the project. Milton Ezrati, chief economist at Vested, tells NTD’s Stefania Cox the Federal Reserve is now caught in a bind after Silicon…
NTD Evening News (March 13): Biden Approves $8 Billion Oil Drilling Project in Alaska; Rep. Comer Subpoenas Bank Records in Hunter Probe
The Biden administration on March 13 green-lit a scaled-back version of the $8 billion Willow oil field development project, angering climate activists while delighting lawmakers from Alaska who have been battling to secure the project. Milton Ezrati, chief economist at Vested, tells NTD’s Stefania Cox the Federal Reserve is now caught in a bind after Silicon…
Biden, Democrats Wrong Blaming Trump for SVB Failure, Economists Say
In the immediate fallout of the collapse of Silicon Valley Bank (SVB) and Signature Bank, President Joe Biden and several Democrats blamed former president Donald Trump’s deregulatory efforts in 2018. During Biden’s prepared address from the White House on Monday, he asserted that the previous administration rolled back several banking requirements aimed to prevent a…
The Fed Is Making Things Ever Worse
March 13, 2023
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Business & MarketsBusiness ColumnistsFederal Reserveinflationinterest ratesjerome powellOpinionrecessionSilicon Valley BankSilicon Valley Bank CollapseViewpoints
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Commentary Jerome Powell came to power at the Fed with the determination to reverse the astounding errors of his predecessors, most especially Ben Bernanke who received the Nobel Prize for the dumbest central-bank policies since the Weimar Republic. Back in 2008, Bernanke pushed borrowing costs for banks to zero and held them there for years…
FDIC Transfers All Deposits From Failed Silicon Valley Bank to Newly Created ‘Bridge Bank,’ Names CEO
March 13, 2023
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The U.S. Federal Deposit Insurance Corporation (FDIC) has transferred all deposits of Silicon Valley Bank (SVB), both insured and uninsured, to a newly created “bridge bank” with a newly named CEO. A massive run on deposits was triggered over SVB’s bond portfolio and its failure to raise capital, causing money to empty out, leading to the bank’s…
First Republic Bank Shares Crash 60 Percent as Financial Stability Jitters Spread
March 13, 2023
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Business & MarketsCompanieseconomyFirst Republic BankMarketsSharesSignature BankSilicon Valley BankSilicon Valley Bank CollapseUSUS News
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Shares of First Republic Bank plunged more than 60 percent in premarket trading on March 13, despite the lender reassuring customers that their deposits are safe amid concerns surrounding the collapse of Silicon Valley Bank (SVB) and Signature Bank. In an email to clients on Sunday, First Republic Founder and Executive Chairman Jim Herbert and CEO and President…
Bank With Over $176 Billion in Deposits Shows Ominous Sign
March 13, 2023
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Business & MarketsCompanieseconomyFirst Republic BankMarketsSharesSignature BankSilicon Valley BankSilicon Valley Bank CollapseUSUS News
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Shares of First Republic Bank plunged more than 60 percent in premarket trading on March 13, despite the lender reassuring customers that their deposits are safe amid concerns surrounding the collapse of Silicon Valley Bank (SVB) and Signature Bank. In an email to clients on Sunday, First Republic Founder and Executive Chairman Jim Herbert and CEO and President…
Silicon Valley Bank Management Fired, Investors Will Not Be Protected: Biden
March 13, 2023
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Business & MarketsBusiness ColumnistsCompanieseconomyJoe BidenMarketsSignature BankSilicon Valley BankSilicon Valley Bank CollapseUSUS News
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The American people can have confidence that the U.S. banking system is safe, President Joe Biden said in a prepared address. While speaking before his visit to California on Monday, the president outlined his administration’s plan surrounding Silicon Valley Bank (SVB) and Signature Bank. “Your deposits will be there when you need small businesses across…
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