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.
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).
Climate activists reacted with equal measures of anger and despair Sunday at the news oil giant Saudi Aramco achieved record profits totalling $161.1 billion last year.
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.
Despite leading scientists generally agreeing that lab grown meat is safe to eat, no long-term studies have been conducted to reliably demonstrate this, Bloomberg reported Tuesday.
