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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsBailout talk roils Washington after Silicon Valley Bank's collapse
Federal officials faced growing pressure Saturday to bail out even the biggest customers of the collapsed Silicon Valley Bank, igniting a ferocious political debate over Washingtons role in tamping down potential threats to the broader U.S. financial sector.
Tech executives, former government officials and at least two Democratic lawmakers called for safeguarding depositors with money at stake in the collapse if a buyer for the banks assets isnt found by Monday, arguing that its the only way to limit a cascade of bigger problems.
Companies that did business with Silicon Valley Bank are already warning that the banks failure may force thousands of layoffs or furloughs, and prevent many workers from receiving their next paycheck.
Some experts worry that large numbers of companies could move to transfer their money from regional banks similar to SVB to safer giant commercial banks Monday, leading to a fresh round of destabilization.
https://www.washingtonpost.com/us-policy/2023/03/11/silicon-valley-bank-bailout-washington/
Arazi
(6,829 posts)Fucking sick of too big to fail companies and banks while politicians fail our best and brightest citizens.
Invest in us too and Im fine with all of it
sprinkleeninow
(20,237 posts)I can go for that if it could be trusted.