DARK SECRETS: 19 | Vintage Vibes

The SVB implosion shows why FDIC insurance is so important

For those with plenty of liquid assets, knowing how FDIC insurance works can save potential headaches down the line.

Fortune · Mar 13, 2023

FDIC official warned 4 years ago that uninsured regional bank deposits were an ‘underappreciated risk.’ No one listened, and we’re now paying the price

Regional banks “pose very significant challenges” for regulators, an FDIC board member wrote in 2019, long before Silicon Valley Bank’s failure.

Fortune · Mar 13, 2023

Hedge Fund Manager Calls For Government Intervention As Elon Musk Open To The Idea Of Buying SVB

Bill Ackman calls on the federal government to step in to solve the failed bank as Elon Musk is open to buying the bank

Zenger · Mar 13, 2023

What happens to your money if your bank fails, plus expert tips on protecting your money

With more than $110 billion in assets, Signature Bank just became the third-largest bank failure in U.S. history. Here’s what consumers need to know about bank failures and protecting their money.

Fortune · Mar 13, 2023

Silicon Valley Bank collapse: What you need to know

Two large banks that cater to the tech industry have collapsed after a bank run, government agencies are taking emergency measures to backstop the financial system, and President Joe Biden is reassuring Americans that the money they have in banks is safe

The Independent UK · Mar 13, 2023

‘Your deposits will be there when you need them,’ president says

President Joe Biden on Monday moved to assure the public after the swift and stunning collapse of two banks that prompted fears of a broader upheaval.

Chicago Sun-Times · Mar 13, 2023

Everyone Is Learning the Wrong Lessons From the Silicon Valley Bank Collapse

Plus: Fox News troubles, junk statistics about illicit economies, and more...

Reason · Mar 13, 2023

Let the bailout debate begin

If a bailout doesn't cost anything, is it really a bailout?

Axios · Mar 13, 2023

A risk management nightmare at Silicon Valley Bank

The CFO and board "failed to adequately protect shareholder value," says a former bank examiner for the Federal Reserve.

Fortune · Mar 13, 2023

Biden raps 2018 bank changes, asks lawmakers to toughen rules - Roll Call

President Biden urged Congress to tighten regulations on the banking sector and criticized a bipartisan 2018 easing of capital rules.

Roll Call · Mar 13, 2023