Banksters, bonds, and failure; the next pandemic dead ahead
Banksters, bonds, and failure; the next pandemic dead ahead
I’m going to leave “economic reports” for later – why bury the lead (lede)? Silicon Valley Bank (SIVB) collapsed on Friday. Excuse me, what I meant to say was: US regulators have shut down Silicon Valley Bank (SVB) and taken control of its customer deposits in the largest failure of a US bank since 2008 (Source – BBC). “The Federal Deposit Insurance Corporation (FDIC), which typically protects deposits up to $250,000, said it had taken charge of the roughly $175bn (£145bn) in deposits held at the bank, the 16th largest in the US.” Lots of Valley startups stored their funding
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There’s some deep bullshit going on here. As there is everywhere. I am hard-pressed to find an entity in which I have any faith left. Corruption everywhere.
