OPEN LETTER/ Come to the dialogue and listen to me speak, otherwise I will cut off your scholarships, you will rot in prison. Please!

 Kliko këtu për të tjera
Voxpress:

The shocking bankruptcy of two banks, President Biden reassures Americans: Your deposits will be there

2023-03-13 20:35:06Kosova&Bota SHKRUAR NGA REDAKSIA VOX
The shocking bankruptcy of two banks, President Biden reassures Americans: Your
President Joe Biden

President Joe Biden said on Monday that the US financial system is safe, in an effort to inject confidence, following the sudden bankruptcy of two banks. This development raised fears of greater consequences.

"Your deposits will be there when you need them," the president said.

US regulators shut down the Silicon Valley bank on Friday as it faced a cash crunch as customers rushed to withdraw their deposits amid concerns about the bank's solvency.

This is the second largest bankruptcy in the country's history, after what happened to the Washington Mutual bank in 2008, which also failed to meet its financial obligations. After the Silicon Valley bank, a second bank, Signature Bank, based in New York, also went bankrupt.

Speaking from the White House, President Biden said he would hold those responsible to account as he pressed for oversight and better practices governing the operations of the largest banks. The president promised that no losses would be borne by taxpayers.

"Americans can have confidence that the banking system is safe."

Mr. Biden also announced the dismissal of the executives of the failed banks. "If the banks are to be administered by the Federal Deposit Insurance Corporation, those who run the bank should no longer work there," he said. The Federal Deposit Insurance Corporation is the federal agency responsible for ensuring the stability of the banking system.

With an equity value of $110 billion, Signature Bank's bankruptcy is the third largest in US history. Another struggling bank, First Republic, announced on Sunday that it had strengthened its financial position, thanks to funding provided by Central Bank and JPMorgan Chase.


Në përputhje me standarded JTI

Video

SHIKO KANALIN NE YOUTUBE
×