It's not every day that we have a bank failure Gene so I do wonder if you worry as an economist about potential spillover effects even if even if it is unique in terms of their deposit base and their their Venture Capital exposure about tighter lending standards for the rest of the financial system which has already been happening on the.
Back of of deposits that have been falling you know look there's no question that when you have anything like this if you're at the White House if you're a treasury you're the Federal Reserve you know yes you're going to be looking exactly at what you're saying are there knock-on effects how much is this a.
One-off does it reflect other challenges but uh you know like all of you we're going to monitor the situation but it is also important to remember that this economy has shown as we saw at the jobs numbers today significant resilience really across the board so you know one should be concerned but just like one shouldn't overreact to a positive sign.
Uh you know one should look carefully at a negative sign and this will be a focus going forward but you know we're monitoring we're you know of course they're you know you never like to see a situation like that but again I want to point to the resilience of the economy and of course I can't help suggesting though that this shows why you don't.
Play games with the U.S economy and I think one thing one could do to help the entire financial and economic system is take off the table the idea that we're that that the GOP is going to risk a financial default uh you know over their demands which I think as we've seen a quite unreasonable demands on the budget let's have that discussion but let's let.
Financial markets know right now there is nobody is going to be holding the U.S economy or the U.S financial system hostage uh uh uh by by saying if they don't get their way they're going to default the U.S government and have an unprecedented Financial catastrophe
3 thoughts on “Silicon Valley Financial institution closed at this time”
Acknowledge seem straightforward. Closure of monetary institution happens attributable to emergence of non banking monetary institution, Private lending by manner of trade which provide scuttle services and giving out loans with much less formalities to form of paper work or scrutiny. The market economic system regulator need to evolve with stringent opening and carrying trade of financing except for by Monetary institution. I’m hoping that is also one solution sustaining the monetary institution. Also, It’s no longer totally about having NPA with the monetary institution that will lead to closure of Monetary institution as there is a mechanism for such recovery and also to scrutiny of getting solvency of borrower whereas sanctioning loans. Now adays it is miles seen that non-public corporations loot government banks by manner of mortgage within the name of trade and tasks. Authorities need to trade the belief of giving mortgage to trade man or a challenge contractor.
I accurate took out all my hundreds of dollars from the monetary institution 🏧
Right here’s serious saunter Realizing right here is from hiring folk due to of their color sexual beliefs and no longer their skill.. will we yell woke and sail broke…….