The U.S. government assured clients of the collapsed Silicon Valley Bank that they would be able to recover all of their money. Will the bank’s historic failure have a ripple effect on the economy?
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#SVBCollapse #SiliconValleyBank #Banking #NewsNationPrime
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The United States government has recently announced that clients of Silicon Valley Bank will be receiving funds as part of a new initiative aimed at providing much-needed financial assistance to those affected by the ongoing COVID-19 pandemic.
NewsNation Prime reported that this move is part of the Federal Reserve’s Main Street Lending Program, which was designed to provide small and medium-sized businesses with support during the current economic crisis.
Silicon Valley Bank, which is home to many innovative startups and technology companies, has been hit hard by the pandemic, with a significant number of its clients struggling to keep their businesses afloat.
As part of the Main Street Lending Program, eligible clients of Silicon Valley Bank will be able to apply for loans ranging from $250,000 to $300 million, with the aim of keeping their companies afloat and protecting jobs.
The loans will be provided on favorable terms, with low interest rates and flexible repayment options, making the scheme an attractive option for businesses in need of support.
At a time when many firms are struggling to access the funding they need to survive, this move from the US government is a welcome boost for the technology sector, which is crucial to the country’s economy and continued success.
By providing targeted support to Silicon Valley Bank clients, the government is demonstrating its commitment to innovation and entrepreneurship, even in challenging times.
It is hoped that this initiative will help to protect jobs and ensure that the companies at the heart of the US’s technological landscape emerge from the pandemic stronger and more resilient than ever before.
In conclusion, the news that Silicon Valley Bank clients will be receiving financial assistance from the US government is a positive development that underlines the importance of supporting small and medium-sized businesses during the pandemic. As the country looks towards a brighter future, initiatives like this will be crucial in helping to drive growth and innovation, ensuring that America continues to lead the way in technological progress.
The EVIL Corruption in USA ‼️‼️
bank = bankrupt
Annnd once again, the banks are mismanaged, bonuses paid, shares dumped and a bail in. What an absolute joke, 2008 all over again. The rich gamble and stuff up, then get a to big to fail and a bail out. Then after everything goes pear shape the government will give out money to tech companies to “stimulate” growth. And in ten years their will be a new Jeff bezos.. and the media will say what a remarkable business leader.. after the business was grown off the back of government stimulus and handout.. to the cost of the people. This flogs should be left to go belly up, like everyone else had to face during the GFC.. look at all the home owners that never got a bail out. Thrives.
Quick trump trump trump, Russia Russia, racism, sexism.. is anything sticking ? Quick we need a distraction to focus the population while we keep stealing.
They didn't show the folks lining up at the bank like she promised
Glad you're seeing these folks fail since others bragged about how much they were making as bankers. It's no surprise it's been hit by bs ,and that's of no value. Let them be no bailouts!
It is safe and strong how many times have you heard that before it collapses.
Why can't I withdraw the money I put in Wells Fargo?
and the CEO sold off all his shares 3 days before. what about that?
Huge relief for major donors to politicians and politicians who have significantly more than $250k with the bank. Huge relief for lobbyists who depend on massive funds to help shear the sheep. What if all the presstitutes just refused to run the story?! Let the panic build and listen to Another One Bites the Dust!
They are going to print $25 Billion to bailout the banks, so making inflation worst is their solution.
those lips are next level. lmaoo
the one per cent never lose due to bad investments….the poor continued to be raped
This is funnier than SNL
They will have access to all their FDIC insured funds and not a penny more. While the FDIC insures deposits of up to $250,000, the vast majority of funds held in at SVB far exceeded that. The agency has said it will make 100% of protected deposits available on Monday. It's only deposits protected by the FDIC. ALL of the protected money will be available. Not amounts exceeding the 250k in any one account. A bailout is when they pay all of the debts of the bank and make the bank and all investors AND depositors whole. They aren't doing that.
US GOVERNMENT DOES NOT OWN FED, FED IS A PRIVATE COMPANY OWNED BY BANKERS , DONT FOOL PEOPLE, THEY NAMED IT FEDERAL TO FOOL THE STUPID PEOPLE WHO LIVE HERE
It's a crazy situation.. I also just made a video about it, explaining what's going on. Cheers everyone! !
We don't have any sane freaking regulations on the banks – because they're the RICH. They can do stupid, irresponsible things with depositors money and the govt. will rush in the save their asses. If people propose relief for the people who got predatory student loans they're socialists!!! This system is so totally f&#@ked up.
Fuck this shit. Stimmy checks for the billion dollar companies that get easy loans and millions in PPP forgiveness.
This type of shit is the decay of our financial system. Let them rot. Vet your banks. This is anti-capitalism.
FED will cover expenses, Tax payers will not? Are you kidding me? Of course we will, it's 'inflation tax'
Great, Oprah, Harry and Meghan’s savings will be safe…
The Fed will cover the expenses, the taxpayer will not. How does that even make sense?
This is going to be nasty. FED helping their friends here on this move. Its the taxpayers money that will be used.
I bid $1
Nope it won't. Stop lying
Heh, heh. Taxpayers always take the hit for the obscenely rich.
Withdraw all your money !! Sell Bitcoin !!!
reminds me of 2008
Taxpayers will end up paying it. There's no other way.
Going to bail them out again, eh? We deserve it if we let them.
Make no mistake about it.The federal reserve has turned the printing press on again. Markets may rally a bit and inflation will rage on .
How is the Taxpayer Not Hitched to any Treasury Bailout Vehicles?The Treasury don't own Anything.
"You will see much anger and denial, much blame and condemnation arising as people’s circumstances are altered beyond their control and as their wealth and opportunities diminish in so many cases. You will see the results of people’s lack of vision and preparation regarding the Great Waves of change. They will be caught off guard. They will be unprepared. And the shock will be very difficult and, in many cases, terrible and extreme. All of a sudden they find themselves now in a changing landscape. Doors are closing to them, and they did not see it coming." ~ A quote from The Message ~ Volume 2 » Preparing for the Great Waves of Change » Facing an Uncertain and Difficult World
How can banks be the holy grail if the people who manage them can't keep their religion right.
I think the Fed planned to take this bank down
Looks like Yellen lied. SVB is receiving the very definition of a bailout. This will just cause more inflation. Poorly positioned banks and their irresponsible leadership will be rewarded for their bad behavior while the American middle class and poor struggle with higher prices. Biden is now a one term president.
Hahhahahahahhahahahhahahaahahaahhahaahaahahahahahahahhahahaaahhhaaahah
Fed Chairman Jerome Powell needs to announce no interest rate hike in March.
Bailout again. NO ONE SHOULD EVER BE RESPONSIBILE WITH THEIR MONEY EVER AGAIN.
Of course Fed govt.
Unlike unlucky seized bank depositors back in 2008 (who got no coverage of amounts over the then FDIC insured amount of $100k, just print more $$ to cover this loss in an effort to calm the public.
Not the truth. Shame on NewsNation Saw the full video, it shows Janet Yellen rejecting any bailout for SVP. Not sure what some people are trying to sell here, but its definitely full of half-truths and fakes. In any case, the senior bank executives of SVP should be made to COUGH out whatever they have taken as salaries and bonuses for the last 5 years or after they joined (whichever is earlier). They were the ones who steered the bank into the sewer hole and they must be the ones who pay for it, or at least a part of it. Otherwise how is this fair? The weather is good, they take the monies and bonuses and when the bank falters they run away and others have to pay for it???
How many of the startups have made money and will be around in 5 years? Probably very few and they’ve just been bailed out.
This is bullshit. Straight up. The $250k limit means friggin nothing and these big business' can play by their own rules while everyone else has to be mindful to diversify. Feds can set up whatever revolving funds they want and drag their ass trying to replenish it. Taxpayers, if Feds can balance the sheets, will eventually have to pay for any losses that the fire sale doesn't cover. Absolute. Bullshit.
The FED *IS* spending taxpayer money through inflation… saying anything else is simply ludicrous!
this is infact a taxpayer funded bailout… the customer money was already blown by the bank so where is the money coming from from the Treasury's assurances to make them whole? Of course it's the taxpayer.
What actually was done? Did the Fed buy the bank's bonds @ face value or current market value? What about stock holders, is their money gone?