The collapse of Silicon Valley Bank (SVB) was the fault of US President Joe Biden’s administration, Donald Trump has claimed, warning it could lead to a new Great Depression in the United States.
CNBC analyst Jim Cramer is once again being pilloried on social media after a clip resurfaced showing the “Mad Money” host recommending viewers buy shares of Silicon Valley Bank’s parent company, which owns the tech-driven commercial lender that swiftly collapsed on Friday.
New York-based Signature Bank, with $110.36 billion in assets, has become the third largest bank failure in US history, following the recent collapse of Silicon Valley Bank, but depositors of both banks will be made whole and no losses will be borne by the taxpayer.
Donald Trump’s former lawyer and fixer Michael Cohen is scheduled to testify Monday before a Manhattan grand jury investigating hush-money payments made on the former president’s behalf.
Just hours before the CEO of Norfolk Southern testified this week before Congress about his railway's apparent difficulty staying on the tracks, another one of its trains derailed in Alabama.
Inspectors General from the Labor Department, Treasury Department, and Small Business Administration (SBA)testified on Covid-19 relief funding to the House Oversight Committee, stating that billions of dollars were lost through "fraud" and "waste" in what was "the biggest fraud in a generation."
