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"The near-collapse of the global banking behemoth Credit Suisse, shortly following two high-profile American bank failures, complicates regulators’ efforts to restore confidence in the banking system. It’s also stoking fears of a contagion effect across the financial sector worldwide. Experts say it’s not a crisis—but we’re not in the clear just yet."
At least, I am presently enjoying the 5 percent interest rates for CDs. God knows what the future will bring. According to the morons in charge, they have avowed to bail out any other banks that fold. I guess that way, they can take total control of independent banking. Maybe Switzerland will become the place to save again.
To hear the incredible story of the fall of the Silicone Valley bank - if you are interested in a very intetesting and incredible story - search shadow banking whistleblower they have the names pandora papers with Mike gill Sarah westall video.
To hear the incredible story of the fall of the Silicone Valley bank - if you are interested in a very intetesting and incredible story - search shadow banking whistleblower they have the names pandora papers with Mike gill Sarah westall video.
Knowing that the donated millions to BLM makes me worry. I believe I would burn down the bank that gave my money to such a gate group.
Government says the banking industry is solid. Who are you going to believe. 2008 hurt a lot of people, especially the rich. I believe they will come together and help each other out if it gets worse. Public opinion would also put pressure on the government to change their minds.
The SVB crisis may turn out OK for North Carolina banking in the long term. Even after all the panic, total deposits withdrawn from banks nationwide amounted to less than 1% of total deposits. These withdrawals disproportionately hit small and regional banks, while Charlotte is a "big bank" town that saw a rush of deposit inflows to BofA, Wells, Truist, et. that grew their deposit balances and provide significant employment here. Essentially the big banks in Charlotte that are too big too fail are becoming increasingly powerful at the expense of small banks. Additional regulations that may be introduced could also benefit Charlotte employment, where there is a deep pool of skilled employment in Risk and Compliance related jobs (even SVB was going to open an office here to tap into the Risk Management skillset here prior to their demise).
What remains of SVB is being acquired by First Citizens in Raleigh, which has been successful at picking up other failed banking institutions over the years and has a strong playbook for integrating them into their company.
Government says the banking industry is solid. Who are you going to believe. 2008 hurt a lot of people, especially the rich. I believe they will come together and help each other out if it gets worse. Public opinion would also put pressure on the government to change their minds.
Yep, 2008 was a nightmare in regards to savings. That was the point where CDs, savings, and checking account perks took a nosedive. I remember CDs going from six and seven percent interest down to two percent and on down to less than one. It was a nightmare as many retirees highly depended on interest rates for supplemental income. I am hoping that rates will stay around or above 5 percent for the next couple of years at least. Otherwise, it might be smart to check into Swiss accounts again. I don't trust Cancun or similar 3rd world banks. I hope that China will give us a fair rate of exchange when their currency takes over. I bet China's friends in Washington have Shanghai bank accounts already.
According to the morons in charge, they have avowed to bail out any other banks that fold. I guess that way, they can take total control of independent banking.
Wouldn't put it past them, they accomplished their goals by taking over the student loan industry but look how well that worked out for Mr. and Mrs. Main Street. Same forces ar eat work here.
Like Reagan said, the nine most dangerous words in the English language are "I'm from the government and I'm here to help"
Wouldn't put it past them, they accomplished their goals by taking over the student loan industry but look how well that worked out for Mr. and Mrs. Main Street. Same forces ar eat work here.
Like Reagan said, the nine most dangerous words in the English language are "I'm from the government and I'm here to help"
No, the most dangerous words are “all your money is gone and the government can’t help you”. If Wall Street goes, there is no Main Street.
Maybe if they could recoup a fraction of fraudulent PPP loans, especially from those folks who despise gubment support/spending that took them, not only could we pay off student loans, we can shore up the financial industry. Since Donny and dummies decided to shed of many of the regulatory safeguards that caused the previous financial meltdown, here we go again. L
The upscale of the entire student loan racket was created by Reagan and chronies to line the pockets of banks. They decided to basically destroy Pell grants and replace with loans. The ole two step, hey you can still get that almost useless degree, just make it easy hell to go neck deep in loans.
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I bet China's friends in Washington have Shanghai bank accounts already.
