The Silicon Valley Bank’s (SVB) bad management may have set off a nationwide financial crisis. The Biden administration has pledged to protect depositors’ money. But among SVB’s customers are firms affiliated with the Chinese Communist Party (CCP). So why are American taxpayers footing the bill to make Beijing whole? In the premiere of the new…
PREMIERING NOW: Troubled US Bank’s Ties to China Raise More Red Flags
Troubled US Bank’s Ties to China Raise More Red Flags
The Silicon Valley Bank’s (SVB) bad management may have set off a nationwide financial crisis. The Biden administration has pledged to protect depositors’ money. But among SVB’s customers are firms affiliated with the Chinese Communist Party (CCP). So why are American taxpayers footing the bill to make Beijing whole? In the premiere of the new…
Former FDIC Chair Speaks Out Against SVB ‘Bailout,’ Says Biden Admin Overreacted
Sheila Bair, former chair of the Federal Deposit Insurance Corporation (FDIC), has criticized the Biden administration’s decision to guarantee all deposits at the failed Silicon Valley Bank (SVB), labeling it an “overreaction.” Bair said during a recent appearance on “The Washington Post Live” series that insuring all deposits at SVB and at the failed Signature…
Vegetable Shortages Drive Unexpected Rise in UK Inflation
Inflation in the UK rose unexpectedly last month as vegetable shortages pushed food prices to their highest rate in more than 45 years, official figures show. According to the latest data from the Office for National Statistics (ONS), the Consumer Prices Index (CPI) rose by 10.4 percent in the 12 months to February 2023, up…
Systemic Credit Crunch Replaces Inflation as Fund Managers’ Top Worry
A systemic credit crunch has overtaken inflation as fund managers’ top fear this month as the biggest risk to the markets, according to a new poll. At least 31 percent of respondents labeled a systemic credit crisis as the most significant threat to markets, followed by 25 percent choosing stubbornly high inflation as the largest…
Dollar Eases as Investors Ponder Outlook for Fed Rates
LONDON—The dollar held around five-week lows on Wednesday, before the conclusion of the Federal Reserve’s policy meeting at which investors will be looking for any insight on what might happen with interest rates given the turmoil in the banking sector. Markets show a quarter-point rise in U.S. rates is the most likely outcome, but investors…
Oil Slips on Demand Fears, Market Awaits Fed Decision
LONDON—Oil prices edged lower on Wednesday following fresh indications of weak demand, and as the market awaited a crucial interest rate decision by the U.S. Federal Reserve. Brent crude futures, which have risen by almost 3 percent this week, were down 30 cents, or 0.40 percent, at $75.02 a barrel at 1026 GMT. U.S. West…
World Stocks Cautiously Higher Ahead of High Stakes Fed Decision
LONDON—World stocks were cautiously higher on Wednesday as hopes that a banking crisis would be averted were tempered by uncertainty before a Federal Reserve meeting that sees the central bank caught between taming inflation and maintaining stability. Data showing British inflation unexpectedly rose to 10.4 percent in February boosted expectations for a quarter point rate…
PREMIERING at Mar. 22 10AM ET: Troubled US Bank’s Ties to China Raise More Red Flags
The Silicon Valley Bank’s (SVB) bad management may have set off a nationwide financial crisis. The Biden administration has pledged to protect depositors’ money. But among SVB’s customers are firms affiliated with the Chinese Communist Party (CCP). So why are American taxpayers footing the bill to make Beijing whole? In the premiere of the new…
Yellen: Government Could Step in Again to Protect Other Banks From Deposit Runs to Stop Contagion
U.S. Treasury Secretary Janet Yellen on Tuesday defended government intervention in the banking sector and suggested that it may be necessary to take similar measures in case smaller financial institutions experience deposit runs that could lead to contagion. She also called the American banking system “sound,’ and said that overall “the situation is stabilizing” due to…
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