Mar 13 Stocks fall and Wall Street fearful after SVB failure followed by second bank By Stan Choe, Associated Press Investors are worried that a relentless rise in interest rates meant to get inflation under control have hit a tipping point and may be cracking the banking system and broader economy. Continue reading
Mar 12 Federal government moves urgently to avert potential banking crisis By Ken Sweet, Christopher Rugaber, Chris Megerian, Cathy Bussewitz, Associated Press The U.S. government took extraordinary steps Sunday to stop a potential banking crisis after the historic failure of Silicon Valley Bank, assuring depositors at the failed financial institution that they would be able to access all of their money quickly. Continue reading
Mar 12 Yellen says there will be no bailout for collapsed Silicon Valley Bank By Chris Megerian, Associated Press Treasury Secretary Janet Yellen said Sunday that the federal government would not bail out Silicon Valley Bank, but is working to help depositors who are concerned about their money. Continue reading
Mar 11 Silicon Valley Bank’s failure shakes companies worldwide, from wine country to London By Stan Choe, Bobby Caina Calvan, Associated Press It was called Silicon Valley Bank, but its collapse is causing shockwaves around the world. Continue reading
Mar 10 Silicon Valley Bank seized by FDIC after largest failure since the Great Recession By Ken Sweet, Associated Press It is the second-largest bank failure in history, behind only the failure of Washington Mutual in 2008. The bank failed after depositors — mostly technology workers and venture capital-backed companies — began withdrawing their money creating a run on the… Continue reading
Oct 09 WATCH: 2008 recession-era Fed Chair Bernanke and 2 other economists share Nobel Prize By David Keyton, Frank Jordans, Paul Wiseman, Associated Press Douglas W. Diamond, Philip H. Dybvig and former U.S. Federal Reserve Chair Ben Bernanke were recognized Monday for their research into the fallout from bank failures. Continue reading
Apr 16 Watch News Wrap: Bank Regulators Defend Oversight of Failed WaMu In other news Friday, federal bank regulators came under fire in the Senate for their role in the Washington Mutual bank failure, and President Obama renewed his calls to rein in the derivatives market in the financial system. Continue watching
Oct 03 Watch After Week of Debate, House Passes Bailout Plan Members of the House approved a modified federal rescue plan Friday, moved by the Senate's support and mounting concerns over the stability of the U.S. financial sector. Kwame Holman reports on the bill's passage. Continue watching