Cenk Uygur
@TheYoungTurks·6.5M subscribers·72.8K videos
Why the Federal Reserve Is To Blame For the Silicon Valley Bank Collapse
Posted
March 16, 2023
Views
62,341
Likes
3,164
Comments
819
Engagement
6.39%
March 16, 2023
62,341
3,164
819
6.39%
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17:54Now PlayingThe Federal Reserve printed billions of dollars for the big banks and the banks put that money right in their own pockets. Ana Kasparian discusses on The Young Turks. Watch TYT LIVE on weekdays 68 pm ET.
Read more HERE
"In the years before Silicon Valley Bank’s sudden failure, federal regulators gave the firm a special exemption from rules designed to prevent deposit-taking banks from engaging in risky investments and financial speculation, according to records reviewed by The Lever.
The move — which was a precursor to regulators later extending a similar exemption to the entire banking industry — coincided with Silicon Valley Bank, or SVB, continuing to invest in the high-risk venture capital industry in the lead-up to its collapse, which is the second-largest bank failure in U.S. history.
As the federal government now protects SVB’s depositors from losses, the bank’s demise has touched off alarms about broader risk in the financial industry, just a few years after both lawmakers and federal bank overseers began rolling back some of the reforms that followed the 2008 financial crisis."
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