According to a report by the Times of Israel, the country’s two largest banks were able to transfer $1 billion out of Silicon Valley Bank to accounts in Israel before it was seized by the feds.
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.
HSBC has agreed to acquire the UK arm of Silicon Valley Bank for a nominal fee of £1, following the collapse of the bank due to its specialization in lending to technology companies.
Shalanda Young, Biden’s director of the Office of Management and Budget, assured Americans that the banking system was “resilient” amid the collapse of the Silicon Valley Bank (SVP).
The Federal Deposit Insurance Corp. (FDIC) and Federal Reserve are discussing creating a fund to backstop deposits if more banks fail following the collapse of Silicon Valley Bank.
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.
Senator Joe Manchin (D., W.V.), chairman of the Senate Energy and Natural Resources Committee, announced Friday that he would reject yet another Biden nominee, arguing that the administration is pandering to climate radicals.
Following the train derailment in Ohio last month, there was something of a groundswell among some Republicans calling for Transportation Secretary Pete Buttigieg to resign. Sen. Marco Rubio (R-FL) was among those calling for that, while a group of House Republicans introduced a resolution, later withdrawn, calling for Buttigieg to step down.
