Monday, March 13, 2023

Regulators seize Signature Bank in third-largest US bank failure | FDIC will protect wealthy and corporations money over $250, 000 Insurance

Article Title: Regulators seize Signature Bank in third-largest US bank failure
Snippet of Article: "...All of those deposit holders will get their money back, according to a joint statement from the Treasury Department Secretary Janet Yellen, Federal Reserve Chair Jerome Powell and FDIC Chair Martin Gruenberg, who cited a "systemic risk exemption" that is also being applied to all Silicon Valley Bank deposit holders. Shareholders and certain unsecured debt holders will not be protected, they added, and senior management had been removed. ..."


Source: yahoo.com

[tag] systemic risk exemption, Bailouts for wealthy and corporations,Biden Legacy,Bailout of Banks (2023), [/tag]