Silicon Valley Bank Closed by Regulators,
FDIC Takes Control
Posted By: earlybird, 3/11/2023 5:29:48 PM
SANTA CLARA, Calif.—Silicon Valley Bank collapsed Friday in the second-biggest bank failure in U.S. history after a run on deposits doomed the tech-focused lender’s plans to raise fresh capital. The Federal Deposit Insurance Corp. said it has taken control of the bank via a new entity it created called the Deposit Insurance National Bank of Santa Clara. All of the bank’s deposits have been transferred to the new bank, (snip) Insured depositors will have access to their funds by Monday morning,(snip)Depositors with funds exceeding insurance caps will get receivership certificates for their uninsured balances, meaning businesses with big deposits stuck at the bank are unlikely
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Prince Andrew has been left “bewildered” that he has not yet received any inheritance from Queen Elizabeth II, royal sources have claimed. After the Queen’s death last September, her £650 million Duchy of Lancaster estate was automatically left to King Charles. However, Prince Andrew, 63, is said to have told friends he feels “despair” that the King has not shared any of his new wealth among his siblings. According to the Daily Mail, Prince Andrew feels an amount of “resentment” at the situation.
Several billionaires issued warnings over the weekend after the Silicon Valley Bank suddenly collapsed late last week and forced the federal government to step in.
Billionaire investor Bill Ackman wrote Saturday that the federal government had about two days to fix the problem—by Monday morning. He noted that a number of depositors may not see their money because it wasn’t insured; the Federal Deposit Insurance Corporation (FDIC) notes it insures $250,000 per depositor, per insured bank for each account.
EXCLUSIVE: Dramatic New Video Shows Efforts
to Revive Lifeless Rosanne Boyland on
Jan. 6, 2021 12 replies
to Revive Lifeless Rosanne Boyland on
Jan. 6, 2021 12 replies
A dramatic new Metropolitan Police Department bodycam video shows how officers and medics from three police agencies worked for 15 minutes to try to revive a lifeless Rosanne Boyland after she was dragged feet-first through the Lower West Terrace tunnel on Jan. 6, 2021.
The urgent efforts to restart Boyland’s heart were a stark contrast to the previous 10 minutes outside the tunnel, where protesters begged police for medical help, but their pleas were ignored. Boyland, 34, of Kennesaw, Georgia, was the last of four people who died at the U.S. Capitol that day.
Treasury Secretary Janet Yellen appeared to hint on Sunday that the government might step in to fund uninsured deposits at Silicon Valley Bank, the tech-sector-focused bank that collapsed last week when panicked customers suddenly withdrew tens of billions of dollars.
The Federal Deposit Insurance Corporation, which took the bank into receivership on Friday, insures deposits up to $250,000. On Friday, the FDIC said all insured deposits would be available on Monday morning.
Most Silicon Valley Bank deposits, however, are above the insured limit. The FDIC said on Friday that it had not determined the amount of uninsured deposits but said depositors with amounts in excess of $250,000 would get
This week, the go-to bank for US tech startups came rapidly unglued, leaving its high-powered customers and investors in limbo.
Silicon Valley Bank, facing a sudden bank run and capital crisis, collapsed Friday morning and was taken over by federal regulators.
It was the largest failure of a US bank since Washington Mutual in 2008.
(Snip)
Founded in 1983, SVB specialized in banking for tech startups. It provided financing for almost half of US venture-backed technology and health care companies.
While relatively unknown outside of Silicon Valley, SVB was among the top 20 American commercial banks, with $209 billion in total assets at the end of last year, according to the FDIC.
SANTA CLARA, Calif.—Silicon Valley Bank collapsed Friday in the second-biggest bank failure in U.S. history after a run on deposits doomed the tech-focused lender’s plans to raise fresh capital.
The Federal Deposit Insurance Corp. said it has taken control of the bank via a new entity it created called the Deposit Insurance National Bank of Santa Clara. All of the bank’s deposits have been transferred to the new bank, (snip)
Insured depositors will have access to their funds by Monday morning,(snip)Depositors with funds exceeding insurance caps will get receivership certificates for their uninsured balances, meaning businesses with big deposits stuck at the bank are unlikely
A class action suit filed in California alleges LG Electronics USA, Inc. sold gas range stoves in the United States without properly notifying customers of toxic emissions prior to their purchases.
The suit comes as the industry faces attacks and efficiency proposals by the Biden administration that would remove up to half the current gas range ovens on the U.S. market.
A California woman who purchased an LG gas stove from Costco in October 2022 claims in the suit that she was unaware of the “risks” associated with the product before purchasing.
“Ms. Sherzai relied on the representations on the marketing materials disclosing risks,” read the lawsuit.
Tiger Woods' former longtime girlfriend is asking a judge to remove her from a nondisclosure agreement that she claims the 15-time major champion forced her to sign when their relationship started in August 2017, according to court records obtained by ESPN.
The civil complaint filed Monday in the Circuit Court of the 19th Judicial Circuit in Martin County, Florida, is the latest in a monthslong dispute between Erica Herman and the star golfer.
Herman believes that the NDA is "invalid and unenforceable" and that a trust controlled by Woods is wrongfully using it against her. Herman's attorney is citing a federal law(snip)that prevents the enforcement of nondisclosure agreements in
A defendant in the Proud Boys trial over Jan. 6, 2021, charges moved on March 9 to dismiss the case, after some footage from the day of the breach was shown for the first time.
Dominic Pezzola is one of the Proud Boys members on trial for obstruction of an official proceeding and other charges. The newly disclosed footage, shown on Fox News this week, “is plainly exculpatory,” Pezzola’s lawyers said in the new motion.
“It establishes that the Senate chamber was never violently breached, and—in fact—was treated respectfully by January 6 protestors,” the motion reads.
Former President Donald Trump easily won the CPAC straw poll on Saturday, with Florida Gov. Ron DeSantis a distant second..and some guy named Perry Johnson came in third.“Who the [bleep] is Perry Johnson?” was a commonly tweeted sentiment as the straw poll results were released, with Trump getting 62%, DeSantis getting 20%, Johnson getting 5%, former South Carolina Gov. Nikki Haley at 3%, and several other contenders with one percent or a fraction of a percent.
Dr. Redfield's Bombshell Testimony
23 replies
Yesterday, we witnessed the ex-director of the CDC, under oath, directly blame Dr. Fauci and the US Government for the deaths of millions of people. However, if you went to the headlines of Google News - there was nary a news story. I guess Google felt it wasn’t important enough to warrant above-the-fold status. Seems like they had to make room for important news items, like the ones above.
A keyword search of Redfield on Google news did come up with the following stories.(snip) The actual testimony of Dr. Redfield was explosive. Yet, none of these headlines bely the gravity of Dr Redfield’s testimony. Dr. Redfield directly linked gain-of-function research
For two years now, we have heard about an insurrection that everyone knows was bogus. The media deliberately lied in its vain attempt to ruin President Donald John Trump — one in a series of attempts by the real deniers of election results. Tucker Carlson’s revelation that the Capitol Police incited peaceful protesters has been dismissed by a media obsessed with lying. The key to Pravda — the Soviet version of propaganda — was not to get people to believe it, but to get people to stop following the news. Judging by television ratings(snip) it is working. It indoctrinates Americans to believe they are powerless
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I love a good conspiracy theory. (Snip) Michelle Obama hates politics, hates voters, and hates Washington D.C., and not necessarily in that order.
She emerged from her privileged Martha’s Vineyard cocoon recently to recount in a podcast (about herself, naturally) that she cried uncontrollably for a half an hour on Air Force One when she left Washington, D.C., after Donald Trump’s inauguration. “Just straight, uncontrollable sobbing” from “holding it together for eight years” under the enormous, horrible, crushing burden of being the First Lady of the United States. Her story was one of struggle where living in the White House with staff to cater to her every need,
Tucker pulled his punches
40 replies
I watched what I thought was a serious journalist blow the first night of the supposed big J6 tape release. But I couldn't help noticing that he picked stuff we already knew -- and he was WEAK.
Where was the video of fed provocateurs and violence coordinators?
Capitol Police flash bang and rubber bullet/baton attacks on an unarmed citizen crowd?
The deceptions about the barricades?
The beatings of unarmed women and lots of unarmed mem, one, Roseann Boyland who died?
What was so hard about demonstrating to the public that the J6 was a Reichstag Fire scam?
Former Vice President Mike Pence, who was President of the Senate that presided over the Electoral College on January 6, unloaded on former President Donald Trump at the Gridiron Dinner on Saturday.
Pence slammed his former boss Trump in his strongest criticism to date of his former running mate. “History will hold Donald Trump accountable for Jan. 6,” Pence said. “Make no mistake about it: What happened that day was a disgrace, and it mocks decency to portray it in any other way. President Trump was wrong. His reckless words endangered my family and everyone at the Capitol that day.”
Every July, Minot Air Force Base, the only one to contain two ‘legs’ of the nuclear triad, celebrates ‘Diversity Day’. Held at the Jimmy Doolittle Center, named after the hard-charging Air Force pioneer who led the first air raid into Japan after Pearl Harbor, Diversity Day showcases “many different cultures along with other diversities such as religion and disabilities” representing the various cultures at Minot Air Force Base.” Jimmy would not approve.
A culture notably absent from the Diversity Day festivities at Minot is a culture of competence.
Two Air Force commanders have been fired after their units failed nuclear surety inspections.
Military aid provided by the United States and its NATO allies to Ukraine is being found in the hands of Iranians, according to a new CNN report.
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It was all a joke, she says. After igniting a firestorm by calling for the murder of pro-lifers on The View Friday, Hanoi Jane Fonda issued a statement: “While women’s reproductive rights are a very serious issue and extremely important to me, my comment on The View was obviously made in jest. My body language and tone made it clear to those in the room – and to anyone watching – that I was using hyperbole to make a point.” Except that it obviously wasn’t clear to anyone present. Fonda was speaking seriously; her declaration only became a joke when it became clear to her that she had crossed
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If you haven’t seen the story yet, down in Fort Lauderdale there’s an LGBT-focused area called Sebastian St. where a large modern LGBT flag has been painted on the street. Footage has been coming out of it being vandalized by a truck that decided to peel out while sitting on top of the flag, leaving it scuffed and blackened. [Tweet] On Wednesday, more footage emerged that showed some cyclists doing their best to scuff up the flag as well. According to WSVN-TV, the cleanup process has begun to repair the flag and police are now trying to track down the vandals. The station began interviewing people
Dr. Susan Bradley, a Canadian psychiatrist and pioneer in child gender dysphoria treatment, came out against the popular model of affirming children’s transgender identities and putting them on puberty blockers — a practice she was once involved in — in an interview with the Daily Caller News Foundation.
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The American Red Cross has maps and guides for migrants to make the dangerous journeys to the U.S.-Mexico border, according to documents exclusively obtained by the Daily Caller News Foundation.
The map, which is part of a packet stamped with the International Committee of the Red Cross and American Red Cross logos, shows a list of resources, including hotels, clinics and shelters where migrants can get support in Mexico and Central America. The maps include clearly defined lines leading to cities along the U.S. border. The organization also has a guide to “self care” along the journey, which includes tips on how to survive the desert and disease,
Shocking footage has revealed the moment a South Carolina student was 'slammed against a wall' and screamed at by her teacher for refusing to recite the Pledge of Allegiance.
The parents of Marissa Barnwell, 15, have launched a lawsuit following the episode, which erupted on the ninth-grader's birthday last November.
The incident occurred at River Bluff High School in Lexington, where honor roll student Barnwell claims she was accosted while quietly walking to class. She says her teacher, named Nicole Livingstone, became enraged after seeing the 15-year-old had not stood still as the pledge rang out across the campus' intercom system.
'I was just in disbelief,' said Barnwell
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*Corrie Driebusch and Meghan Bobrowsky (there should be no paywall)
Deposit accounts are FDIC-insured to a total of $250,000. The bank had invested heavily in treasury bonds. Then the fed raised rates. On Wednesday, the bank was OK. On Thursday the huge run on the bank sunk it. There is talk of Elon Musk buying it.