In prepared remarks to an American Bankers Association summit in Washington, Ms. Yellen said Tuesday that the administration’s actions to close Silicon Valley Bank in California and Signature Bank in New York “reduced the risk of further bank failures.”“Similar actions could be warranted if smaller institutions suffer deposit runs that pose the risk of contagion,” she said. “The steps we took were not focused on aiding specific banks or classes of banks.
She said the Treasury Department “is committed to ensuring the ongoing health and competitiveness of our vibrant community and regional banking institutions.”
Source: News Formal (newsformal.com)
No one asks, how did Silicon Valley Bank get in this position in the first place? Janet Yellen won’t tell chairman Powell won’t say Joe Biden won’t say.
Of course she says that.
Don’t trust anyone who looks like a mushroom 🍄
What a joke
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