A study from the Social Science Research Network (SSRN) revealed that 186 banks could collapse if half of their uninsured depositors withdraw their funds.
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.
When the Democrats finally passed the "Inflation Reduction Act" in 2022 (how's that going?), they included several tax hikes set to take effect on Jan. 1, 2023.
The Walt Disney Co. saw $123 billion of its market value evaporate in 2022 as its stock dropped 44 percent amid profitability concerns, CEO musical chairs, and a suicidal embrace of woke identity politics.
In an interview aired Sept. 18 on “60 Minutes,” President Joe Biden declared the COVID-19 “pandemic is over,” in the first such statement by a prominent political figure in the U.S.
Well, the long-awaited second-quarter GDP numbers are out, and based on the reading, the economy contracted by 0.9% on a year-over-year basis, adjusted for inflation.