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 Watch 2:35 News Wrap: Pence says ‘history will hold Donald Trump accountable’ In our news wrap Sunday, Mike Pence criticized Trump for his role in the Jan. 6 capitol attack at an annual dinner with Washington journalists, Treasury Secretary Yellen said there will be no federal bailout for Silicon Valley Bank, eight… Continue watching
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