Treasury Secretary Janet Yellen rejected the idea of bailing out Silicon Valley Bank. See potential bias and similarities in coverage from guardian, thehill, and FoxBusiness: SVB Bailout
Face the Nation, interviewer Margaret Brennan asked Yellen whether she had ruled out a bailout, as her counterpart in the U.K. had done regarding SVB’s U.K. arm. Yellen replied, “Well, let me be clear that during the financial crisis, there were investors and owners of systemic large banks that were bailed out and were certainly not looking. And the reforms that have been put in place means that we're not going to do that again.
” Yellen emphasized that “new controls,” “better capital,” and “liquidity supervision” proved their “resilience” during the COVID-19 pandemic. Meanwhile, lawmakers reportedly appearedSVB was widely described as the largest American bank to collapse since Washington Mutual in 2008, making it the second-largest bank failure in U.S. history. Many drew comparisons to the 2008 financial crisis, when policymakers propped up banks to prevent a broader banking system failure.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
How Silicon Valley Turned on Silicon Valley BankThe fallout from Silicon Valley Bank threatens to engulf Silicon Valley—and has put the rest of the banking system on edge
Read more »
Janet Yellen: Government Is Monitoring the Silicon Valley Bank CrisisTreasury Secretary Janet Yellen said during a House Ways and Means Committee hearing Wednesday that the government continues to monitor the Silicon Valley Bank crisis.
Read more »
Janet Yellen Convenes Regulators over Silicon Valley Bank CrisisTreasury Secretary Janet Yellen on Friday convened leading financial regulators over the Silicon Valley Bank crisis.
Read more »
Yellen says no federal bailout for Silicon Valley BankWILMINGTON, Del. (AP) — Treasury Secretary Janet Yellen said Sunday that the federal government would not bail out Silicon Valley Bank , but is working to help depositors who are concerned about their money .
Read more »
Yellen says no federal bailout for Silicon Valley BankTreasury Secretary Janet Yellen says the federal government won't bail out Silicon Valley Bank, but is working to help depositors who are concerned about their money.
Read more »
Yellen rules out bailout for Silicon Valley Bank: 'We're not going to do that again'The collapse of Silicon Valley Bank is the largest of a financial institution since the failure of Washington Mutual in 2008.
Read more »