FDIC sought buyers for Republic first before investor deal • BusinessMirror
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READ MOREMarch 28, 2024
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READ MOREA version of this story first appeared in the CNN Business newsletter “Before the Bell”. Not a subscriber? You can register Right here. You can listen to the audio version of the newsletter by clicking on the same link. NY CNN — It took the Federal Deposit Insurance Corporation about $23 billion to clean up
READ MOREJake Johnson, staff writer Common dreams. In prepared testimony to the Senate Banking Committee hearing scheduled for Tuesday morning, the chairman of the Federal Deposit Insurance Corporation reports that the top 10 deposit accounts at Silicon Valley Bank had a total of $13.3 billion, likely adding to criticism of federal regulators’ intervention in the firm’s
READ MORELambert: Nice test of my theory that financial institutions with “First” in their names are like restaurants with “Mom’s” in their names. Wolf Richter, editor of Wolf Street. Originally published on Wolf Street. FDIC is a liquidation machine. And so it is announced on Sunday evening that he made a purchase and transaction with First-Citizens
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READ MORENY CNN — Sheila Bair, chief banking regulator during the 2008 financial crisis, says the stunning collapse of the Silicon Valley bank is exactly why the Federal Reserve needs to end its war on inflation. “The Fed needs to pause and assess the full implications of its actions before raising short rates,” Baer, the former
READ MOREYves is here. I must confess that I have not followed the cascading crashes in the cryptosphere so closely, with the exception of the impressive and instructive crash of FTX. As many of you know, Silvergate has offered dollar deposit services to many cryptocurrency exchanges and has also gone wild by taking on the risk
READ MOREKate Berry at The American Banker did an important investigation in her new story, The American Banker. Silvergate Bank Receives $4.3 Billion in Bank Advances on Home Loan. Berry gets to the bottom of his story, but American Banker’s style of writing has led to really bad things that would only be obvious to banking
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