‘Breitbart Business Digest’ co-author and economics and finance editor John Carney reacts to the FDIC taking control of Silicon Valley Bank deposits on ‘Kudlow.’
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LEARN MORE ABOUT: Bank Failures
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As the COVID-19 pandemic continues to wreak havoc on the global economy, former Federal Reserve Governor John Carney warns that the United States may be headed for more bank failures in the near future.
Speaking at the Barclays Global Financial Services Conference, Carney acknowledged that the banking sector has remained relatively stable during the pandemic so far. Stimulus measures and aggressive interventions by central banks have helped keep the financial system afloat.
However, Carney warns that the worst may be yet to come. He notes that small community banks and regional institutions, which are more vulnerable to economic shocks, may not be able to weather the storm for much longer.
Carney notes that the United States has roughly 5,000 banks in total, many of which are smaller institutions that cater to local communities. These banks may struggle to survive if the pandemic-induced economic downturn persists over the long-term.
The former Fed governor also notes that the banking sector may be vulnerable to other shocks beyond the pandemic. For example, geopolitical tensions, trade wars, or other global events could disrupt financial markets and cause significant problems for banks.
Despite his warnings, Carney does note that the current situation is not as dire as the 2008 financial crisis. Banks are better capitalized and more strictly regulated now than they were a decade ago, which should help mitigate some of the risks.
Still, Carney’s warning highlights the need for continued vigilance and caution in the banking sector. If economic conditions do worsen, banks will need to be prepared to weather the storm and prevent widespread failures that could hurt both the financial system and the broader economy.
Ultimately, only time will tell whether Carney’s warnings will come to pass. However, his insights provide an important reminder of the uncertainties and risks that still exist in the banking sector, even as the world begins to recover from the pandemic.
Re enact Dodd Frank
OWN IT CONSERVATIVES!!! YOUR PARTY OF FISCAL RESPONSIBILITY DEREGULATED EVERYTHING GUTTING DODD-FRANK…..WHEN…..WHEN WILL YOU MORONS REALIZE REPUBLICAN POLICYS ALWAYS LEAD TO FINANCIAL COLLAPSE????
2008 repeats itself, invest in precious metals while you can
This already happened to other countries China Russia And Germany last year
The bankers responsible should face court for failure to handle funding it not enough to bail them out they need jail time for bad decisions a slap on the wrist Not Good Enough! Jail time for bad investing !
This is great news! These thieves deserve it. I hope sallie mae is next
I am new to the stock market. Every stock that I bought so far, I was out of luck because I bought them when they were expensive. I feel I missed out on all the stock opportunities so far for the tech stocks.I believe having 200K yearly income would be a good investment so I want to plug all my savings into the stock market. I know this sounds a bit dull but I would like to know if I should learn investing or let somebody else (more capable like a Fin-Advisor) do it for me? Please share your thoughts. I am kind of tired of searching for a good stock to buy and losing all the good opportunities
I withdrew $30 and my account overdraft by $12:00.
No thanks to frank dodd rules being killed by Trump and Republicans, enabling this to happen as it did.
U.S stocks found their footing in the final hour of back-and-forth trading Monday after all three major index logged their worst week in three months, Heard someone say the best season for a financial breakthrough is now, especially with inflation running at a four-decade high. I'm still at a crossroads deciding if to liquidate my $117k stock portfolio, what’s the best way to take advantage of this down market?
It’s not that much to worry about. Banks fail all the time, and the FDIC comes in and make sure everything’s alright.
Fake news… Next
This, in my opinion, just serves to highlight the necessity for an edge among investors, since simply playing the market like everyone else is insufficient. What do you think? I've been a little hesitant about investing in the present market, but I also think it's the perfect moment to start.
It was a planned failure I'm sure.
Stuff a big mac in his fat mouth. Dirty greasy haired unshaven…. Bum.
Everything is fine.
US dollar is backed by credit, US dollar is going to fall by mid of this year, new scramble for Africa shall begin cause we have the gold and diamond to back your currency.
Probably more … What a precision!
Our time had reached its zenith, and it is now over. Everything not just bank, Stock including 401Ks, are suffering from the recession and crashes. My $750K retirement equity portfolio is losing money. Because of inflation, I keep losing. Similar to how Rome fell under its despotic emperors, this world will also. I apologise if you are considering retirement but are concerned that your pension won't cover the rising expense of living. There are terrible foreign policies worldwide, as well as disastrous regulatory, fiscal, and energy policies.
The thumbnail. Fox is captain obvious. Lions and tigers and bears
I told many of my friends to take their excess money out of the bank !
dude has no upper lip
CREATING ANOTHER SOURCE OF INCOME IN THESE DIFFICULT TIME IS THE BEST THING TO DO. NOT ONLY DOES IT GUARANTEE RETURNS, IT ALSO HELPS YOU PLAN AND SAVE FOR THE FUTURE EXPENSES. IT CAN BE QUITE DIFFICULT TO MAKE AN INVESTMENT WITHOUT sound KNOWLEDGE OR GUIDANCE , WHICH is WHY IS ADVISABLE TO WORK WITH AN INVESTMENT ADVISOR
FACTS – Central Banks and governments are stockpiling physical gold .
Countries like India ALSO purchasing physical silver ;
40 % of 2022’s total mining supply !
China and Russia for the last 5-7 years encouraged their citizens to obtain all the physical silver and gold that they could afford .
In the US , 42 out of 50 states ( so far ) have lifted the state sales tax charges on precious metals .
A month ago , an African country settled an oil tanker delivery from Saudi Arabia – in physical gold bars .
“ ordinary citizens need to become their own central bank by obtaining physical gold and silver “ – an unknown economist .
Less than 2% of Americans citizens have any precious metals .
Peace ☮️
Fox the chicken little. There are no libertarians in bank failure. Yes depositars will get their money, but big investors won't get a bailout this time. You can thank Trump for this
Silicon Valley Bank….Signature Bank…two failures in less than one week. Uh-oh…
Of course! SVB was only the start… Just like the Savings & Loan crisis some 35 years ago, banks or institutions whom lend to "start-ups" instead of established big money corporations, get plowed over! You cannot have "Capitalism" without the big "Capitalists"!
The need and use of money is a form of mental disorder. We the people do not need a monetary system in order to be a “thriving community”. No work/bills/taxes starting May 1, 2023. Spread the message. If we band together there’s nothing we can’t overcome. This is THE ASSIGNMENT!!! Basic human needs shouldn’t be monetized but provided to all as is their birthright.
HISTORY AGAIN ???
Mean while Biden is sending a lots of Money to the Ucranian War
Signature Bank of New York went under yesterday as well. $320 billion of banks being shut down in a weekend!
True
No the laws/codes and shall no wealth