Home Deport co-founder Bernie Marcus analyzed the historic collapse of 'woke' Silicon Valley Bank and the harmful impact it could have on everyday Americans.
People are struggling. People can't pay their bills, they can't fill their tanks with gas."I think that the system, that the administration has pushed many of these banks into [being] more concerned about global warming than they do about shareholder return.
A customer stands outside of a shuttered Silicon Valley Bank headquarters on March 10, 2023 in Santa Clara, California. Silicon Valley Bank was shut down on Friday morning by California regulators and was put in control of the U.S. Federal Deposit Insurance Corporation. The former CEO concluded by issuing a grim economic warning to consumers, arguing that the Biden administration is"obtuse" to the problems that plague everyday Americans.
"The Fed keeps raising rates and inflation keeps going in the wrong direction. It's not staying where it should be. People are struggling.They can't fill their tanks with gas. And if you think that's a good sign, I don't think it is. And we have an administration that's obtuse to this. They just keep talking about the great times and how good it is. It's not good," Marcus concluded.
Get all the stories you need-to-know from the most powerful name in news delivered first thing every morning to your inbox
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Silicon Valley Bank spooks Silicon ValleySilicon Valley Bank, long one of the most popular financial institutions among tech and life sciences startups, saw its shares fall more than 60% on Thursday, wiping out a whopping $9.4 billion in market value.
Les mer »
Column: The Silicon Valley Bank collapse is Silicon Valley's problem, not yours'Based on the information that has been made public, the bank unwisely put its eggs in one basket by taking deposits from an insular group of depositors: venture-funded startups.' Column by hiltzikm:
Les mer »
Silicon Valley Bank Rocked, Bank Shares PlummetA financial free fall is happening right now in the Bay Area. One of the most trusted local banks is in trouble and now there’s growing concern that some companies are withdrawing their funds, which could spell doom.
Les mer »
Bank stocks plunge after implosions at Silicon Valley Bank and SilvergateBank stocks plunge after implosions at Silicon Valley Bank and Silvergate Capital send 'shock waves' through the sector
Les mer »
Silicon Valley Bank drops another 45%, weighing on the bank sector againShares of SVB Financial Group, known as Silicon Valley Bank, tumbled for a second day Friday and weighed on the whole banking sector again.
Les mer »
Silicon Valley Bank drops another 60%, weighs on the bank sector againShares of SVB Financial Group, known as Silicon Valley Bank, tumbled for a second day Friday and weighed on the whole banking sector again.
Les mer »