Sen. Elizabeth Warren is calling for an investigation of what led to the collapse of Silicon Valley Bank and Signature bank this month, demanding answers from the FDIC.
"The FDIC doesn’t have enough funds to cover these losses," Antoni explained. "If it did, the Federal Reserve would not have had to establish an emergency lending fund on a Sunday evening to backstop the operation.
The Fed can simply create the money to cover the losses at these failed banks, which will cause inflation, or the FDIC can do what they did in the last financial crisis and simply get the money from the Treasury, which is a direct cost to taxpayers. Either the American people are on the hook through the hidden tax of inflation or explicit taxes sent to the Treasury."
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Former NYDFS Superintendent Reacts to Signature Bank ShutdownReuters reports that the Federal Deposit Insurance Corporation (FDIC) wants bids submitted by today for banks interested in buying the assets of Signature Bank. Former New York State Department of Financial Services (NYDFS) Superintendent Maria Vullo discusses Signature's shutdown and the potential implications for the U.S. crypto regulatory landscape.[reward]42277a9c-7309-46ac-9e66-60d7e0ab4a08[/reward]
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Bitcoin rallies above $26,000 as regulators eye bids for Signature Bank: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Zain Jaffer of Blue Field Capital discusses Meta's metaverse vision as the company cuts jobs.
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Former NY Regulator: Crypto Isn't the Reason Why Signature Bank Was ClosedSignature Bank was shut by New York bank regulators because it failed to provide reliable and consistent data, not because of its crypto clients, MariaTVullo, former superintendent at the NYDFS, told CoinDesk TV's 'First Mover.' _franvela reports
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Some Equifax settlement checks bounced due to 'clerical error' at failed Signature BankThe bounced checks were unrelated to the recent collapse of Signature Bank and affected consumers will be reimbursed, according to the settlement administrator.
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