No gov’t bailout for Silicon Valley Bank: Yellen
balked at the government rescuing the nation’s 16th-largest bank, as was done for hundreds of institutions during the financial crisis in 2008.
“During the financial crisis, there were investors and owners of systemic large banks that were bailed out,” Yellen said. “And the reforms that have been put in place means that we’re not going to do that again.” Yellen still insisted that officials are “concerned about depositors and are focused on trying to meet their needs.”on Silicon Valley Bank on Monday morning when cash covered by the Federal Deposit Insurance Corp. is supposed to be available.
Treasury Secretary Janet Yellen told CBS’ “Face the Nation” that the US won’t bail out the failed Silicon Valley Bank.REUTERS “I’ve been working all weekend with our banking regulators to design appropriate policies to address this situation,” Yellen said Sunday.
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Column: The Silicon Valley Bank collapse is Silicon Valley's problem, not yours'Based on the information that has been made public, the bank unwisely put its eggs in one basket by taking deposits from an insular group of depositors: venture-funded startups.' Column by hiltzikm:
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Silicon Valley Bank closure: Yellen says banking system 'resilient' as she meets with regulatorsSilicon Valley Bank was closed by the California Department of Financial Protection and Innovation after its parent SVB Financial lost a record 60% of its value. The bank’s failure is the second biggest in U.S. history.
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Janet Yellen: Government Is Monitoring the Silicon Valley Bank CrisisTreasury Secretary Janet Yellen said during a House Ways and Means Committee hearing Wednesday that the government continues to monitor the Silicon Valley Bank crisis.
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Janet Yellen Convenes Regulators over Silicon Valley Bank CrisisTreasury Secretary Janet Yellen on Friday convened leading financial regulators over the Silicon Valley Bank crisis.
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Yellen says no federal bailout for Silicon Valley BankWILMINGTON, Del. (AP) — Treasury Secretary Janet Yellen said Sunday that the federal government would not bail out Silicon Valley Bank , but is working to help depositors who are concerned about their money .
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Yellen says no federal bailout for Silicon Valley BankTreasury Secretary Janet Yellen says the federal government won't bail out Silicon Valley Bank, but is working to help depositors who are concerned about their money.
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