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Tag: 2023

Federal Reserve Board – Joint Statement by Treasury, Federal Reserve, and FDIC ☞

“…Depositors will have access to all of their money starting Monday, March 13. No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer….

…Shareholders and certain unsecured debtholders will not be protected. Senior management has also been removed. Any losses to the Deposit Insurance Fund to support uninsured depositors will be recovered by a special assessment on banks, as required by law…”

Regulators close New York’s Signature Bank following Silicon Valley Bank collapse ☞ CBS News

“All depositors will be made whole, the Federal Reserve, Treasury Department and FDIC said Sunday in a joint statement. ‘Shareholders and certain unsecured debtholders will not be protected,’ the agencies said. ‘Senior management has also been removed. Any losses to the Deposit Insurance Fund to support uninsured depositors will be recovered by a special assessment on banks, as required by law.'”

What happens when ChatGPT meets censorship? ☞ Radio Free Asia

“Asked the same question in traditional and simplified Chinese, the chatbot qualified three of its four responses with the phrases, ‘there are different views,’ ‘there’s still controversy,’ and ‘further investigation and evaluation are needed.’”

Federal Judge Shouted Down at Stanford Law School ☞ Breitbart

“Nearly 100 students joined in to chastise the Trump appointee, who described the disruption as a ‘bizarre therapy session from hell.’”

“’If enough of these kids get into the legal profession, the rule of law will descend into barbarism,’ Duncan continued. After some time, Duncan was escorted out of the building by federal marshals due to the students’ abhorrent behavior.”

Silicon Valley Bank employees received bonuses hours before takeover ☞ CNBC

“The size of the payouts couldn’t be determined, but SVB bonuses range from about $12,000 for associates to $140,000 for managing directors, according to SVB was the highest-paying publicly traded bank in 2018, with employees getting an average of $250,683 for that year, according to Bloomberg.”

Feds Take Over Silicon Valley Bank in Biggest Bank Failure Since 2007 ☞ RedState

“The FDIC takeover of SBV leaves several unanswered questions for investors and account holders. At the end of 2022, SVB had approximately $209 billion in total assets, with about $175.4 billion in total deposits. According to the FDIC, it’s currently unclear how many of those deposits were above their insurance limit of $250,000 per depositor.”

- Digging Through the Dump -

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