Home Depot co-founder Bernie Marcus says the collapse of Silicon Valley Bank should ring alarm bells for Americans entrusting their money in what he calls a 'woke' financial institution for considering factors like climate change.
“Maybe the American people will finally wake up and understand that we’re living in very tough times, that, in fact, a recession may have already started,” Mr. Marcus said on Fox News over the weekend. “I think that the system [and] the administration has pushed many of these banks into [being] more concerned about global warming than they do about shareholder return.
Federal regulators shuttered Silicon Valley Bank, headquartered in Santa Clara, California, on Friday, sending shockwaves through the market. The bank had long-standing relationships with technology startups. Treasury Secretary Janet Yellen said Sunday that the federal government will not bail out the bank, despite calls to do so.
“Let me be clear that during the financial crisis, there were investors and owners of systemic large banks that were bailed out, and the reforms that have been put in place means that we’re not going do that again,” Ms. Yellen said on CBS’ “Face the Nation.” “But we’re all concerned about depositors and are focused on trying to meet their needs.”
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Column: The Silicon Valley Bank collapse is Silicon Valley's problem, not yours'Based on the information that has been made public, the bank unwisely put its eggs in one basket by taking deposits from an insular group of depositors: venture-funded startups.' Column by hiltzikm:
Leer más »
Home Depot co-founder torches ‘woke’ Silicon Valley Bank collapse, warns recession may be here alreadyHome Deport co-founder Bernie Marcus analyzed the historic collapse of 'woke' Silicon Valley Bank and the harmful impact it could have on everyday Americans.
Leer más »
Silicon Valley's burning bankSilicon Valley Bank, a cornerstone of the tech and life sciences startup economy and America’s 16th largest bank, is imploding.
Leer más »
Silicon Valley Bank Shuttered by State RegulatorsNEW: State and federal regulators have taken over Silicon Valley Bank. The startup-focused bank counted a number of crypto firms as clients. nikhileshde realDannyNelson report
Leer más »
U.S. government takes control of Silicon Valley BankThis is the largest bank failure since Washington Mutual in 2008.
Leer más »