Are bank catastrophes the new normal under Biden‘s economy?
Despite Silicon Valley Bank being named one of America’s Best Banks in 2022 by Forbes’ 13th annual look at America’s Best Banks, winning #15 out of the 100 largest publicly-traded banks based on growth, credit quality and profitability, it has taken a major nosedive. SVB was shut down Friday after it lost $2 billion in a liquidity crisis — becoming largest failure since the Great Recession. The bank is scheduled to reopen this morning under federal ownership.
The Federal Deposit Insurance Corporation (FDIC) has issued this updated and concerning press release titled, “FDIC Creates a Deposit Insurance National Bank of Santa Clara to Protect Insured Depositors of Silicon Valley Bank, Santa Clara, California.” Intending to be reassuring, it strikes fear in anyone who is paying attention. The press release states,” Silicon Valley Bank had 17 branches in California and Massachusetts,” using the past tense.
Federal regulators also seized New York regional bank Signature Bank. Signature becomes the third-largest bank to ever fail in the U.S., behind Silicon Valley Bank and Washington Mutual in 2008. First Republic Bank stock plunged by 63% this morning, according to the Wall Street Journal.
The No Fear Act heralded on the FDIC’s website has nothing to do with American’s fear of losing their savings, but is a trendy diversion and inclusivity site focusing on the Office of Minority and Women Inclusion and the production of annual reports of status and progress to Congress, the attorney general, the Office of Personnel Management, and the U.S. Equal Employment Opportunity Commission.
Losing sight of the reason for its existence, Silicon Valley Bank needs to focus on what caused customers to access its services and leave the leftwing inclusion jargon to the Bidencrats.
Biden’s Treasury Secretary Janet Yellen, a democrat who previously was appointed by Barack Obama, was confirmed by the U.S. Senate on January 25, 2021, by this roll call vote of 84-15. Only 15 Republicans voted against her conformation.
Seeing Red AZ 
With the inconsequential interest paid on bank’s saving accounts, an nearly equal return would be seen if we stuffed our money in our mattresses. It would be less of a cause of insomnia.
Political correctness is destructive, basing success on diversity is lunacy. That’s not how the real world functions, nor should it be.
With banks failing, gold is soaring. It was up nearly $44 this morning. Gold is solid, not paper. Its value is intrinsic. Dollars issued by the confederacy have no purchasing power today. They are curiosity pieces valued by Civil War collectors.
THIS is our reality. We’ve been screwed by those “nice” democrats you know:
Biden’s a senile figurehead, unable to articulate a cogent thought. He’s past embarrassing. He’s a sick old man who needs to be in a dementia ward, but the dems mistook the White House for a long term care facility. Equally as frightening is cackling VP Kabala. It’s well past time to acknowledge that democrats are disconnected from reality and will vote for anything with a “d” following its name.
What ever happened to the investigation into Hunter Biden’s laptop? It has suddenly vanished. The cocaine addict has been given a reprieve by the otherwise interested media. Having a father in the WH, even one who is barely aware, seems to have paid off for Hunter…who is most likely hunting for yet another a new wife and supply of crack.