Called Silvergate News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Valley bank. in the end they decided they didn't have time to make that sale properly given the risk this thing was going to spread and more banks were going to fail, so they gave up on that over the weekend after initially trying to do that. by sunday, by yesterday sure enough another bank was down, signature bank, which was another bank tied up in the crypto currency shenanigans. so what does this mean first of all, people who put their money into those banks are going to get their money back. the fdic -- that you know fdr -- insures every bank account up to a quarter million dollars. and th...

Having another one of those thank you fdr kind of days because wednesday, last week, a bank called silvergate was first to go caput. they went caput on wednesday senator elizabeth warren who became a national public figure at all because of her harz nosed, plain talking explanations and criticism about bad actors in the financial world, elizabeth warren was all over it when silvergate bank collapsed wednesday last week. she said, quote, as the bank of choice for crypto silver bank gate's failure is disappointing but predictable. i warned of silvergate's risky if not illegal activity and identi...

His brand spanking new government to step in and take over to try to stabilize the whole mess >> let me make it clear to you that the banks will take care of all needs. when the people find that they can get their money, that they can get it when they want it for all legitimate purposes, the fandm of fear will soon be laid. people will again be glad to have their money where it will be safely taken care of and where they can use it conveniently at any time i can assure you, my friends, that it is safer to keep your money in a reopened bank than it is to keep it understand the mattress >> i can...

Then late wednesday night another california bank, silicon valley bank announced they had lost nearly $2 billion, and that started a run on that bank by their depositors venture capital firms in particular appeared to have pulled their own funds of sill call valley bank and told the companies they were invested in they too should pull their money out of that bank so by close of business thursday people who had their money deposited had tried to pull over $40 billion out of that bank. that was close of business thursday by friday mysteriously that bank had decided it would pay out a bunch of bo...

Their money out of the banks, the reason he was able to promise that today was also because of fdr two days later he took control of the banking crisis and six days later he gave his first fireside chat in which he explained the banking crisis to the american people and told them what he was doing to get ahold of it. just a few weeks after that, fdr signed legislation that created the fdic, the federal deposit insurance corporation, which does exactly what it says. if you make deposits of your own money into an american bank, any federal bank insured by fdic can guarantee you the federal gover...