Join us Friday, March 10th, 2023
for TWO back-to-back shows at
6:00 AND 7:00 PM ET
LIVE on the platforms below!
Weekly News Report– In the biggest bank failure since 2008 and the second largest bank failure in US history, Silicon Valley Bank has just been shuttered by California regulators. This news sent shock waves throughout the financial markets today sending stocks plummeting. The California Department of Financial Protection and Innovation has said that it is taking over the Silicon Valley Bank (SVB).
The Federal Deposit Insurance Corporation (FDIC), which will be the receiver, has established a separate entity where all insured deposits that were made at SVB will be available by Monday.
SVB deposits are insured up to $250,000 per depositor, as with all other FDIC-member banks. However, the FDIC has yet to determine how many of the deposits at the bank exceed the limit. The agency stated that they “will be working over the weekend” to figure out the exact figures, although initial numbers suggest that over 97.3% of the deposits at the bank are over the insured limit. Is SVB a canary in the coal mine? Could this be the beginning of another financial market meltdown?
In other news, Twitter file reporters were interviewed this week on Capitol Hill as lawmakers passed praise and punches on independent reporters tasked with disseminating behind-the-scenes communications at one of social media’s largest outlets. All of that and much more ahead in this week’s Headline News!
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hands-on or interactive class (over 20 just for the kiddos!) in homesteading, survival, bushcraft,
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LIVE Stream Options:
CloutHub: https://www.clouthub.com/resistancechicks Channel 1620
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