Matt Stoller, the research director at the American Economic Liberties Project, weighs in on the collapse of the Silicon Valley Bank, and President Biden's attempt to assure the public that banking system is safe. Originally aired March, 13, 2023; #SVB #siliconvalley #banking About Rising: Rising is a weekday morning show with bipartisan hosts that breaks the mold of morning TV by taking viewers inside the halls of Washington power like never before. The show leans into the day's political cycle with cutting edge analysis from DC insiders who can predict what is going to happen. It also sets the day's political agenda by breaking exclusive news with a team of scoop-driven reporters and demanding answers during interviews with the country's most important political newsmakers. Follow Rising on social media: Website: Hill.TV Facebook: facebook.com/HillTVLive/ Instagram: @HillTVLive Twitter: @HillTVLive...(read more)
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In recent news, the current President of the United States of America, Joe Biden, has come under scrutiny about his potential involvement in bailing out Silicon Valley Bank. However, he has flatly denied the notion that he has any intention of doing so. Despite Biden's statement, prominent writer Matt Stoller has stated otherwise. Stoller, who is a Fellow at the Open Markets Institute, has written an article that outlines how Biden's administration is quietly bailing out Silicon Valley Bank through a series of channels. Stoller begins his article by acknowledging that most Americans have probably never heard of Silicon Valley Bank, and yet it is one of the largest banks in the United States. The bank focuses on offering banking services to startups, venture capitalists, and tech companies. Stoller goes on to explain that Silicon Valley Bank has a lot of problematic assets on its books, including significant investments in WeWork, Uber, and other startups that have not performed as expected. According to Stoller, these investments have led to significant losses for the bank. However, he argues that rather than allow Silicon Valley Bank to fail or bail it out in a straightforward manner, the Biden administration is opting for a less transparent approach. Stoller contends that the Treasury Department is instead using a covert tactic that involves facilitating a series of mergers that will allow the bank to offload its problematic assets. According to Stoller, this approach is problematic because it not only provides a bailout to one of the largest banks in the country but also sets a dangerous precedent for future financial crises. Stoller believes that this tactic will set a precedent that the government can bail out banks without facing scrutiny from the public or Congress. Despite Stoller's objections, the Biden administration has maintained that it is not involved in bailing out Silicon Valley Bank. Furthermore, the Treasury Department has stated that the bank is solvent and that it is not facing any financial difficulties. In conclusion, the issue of whether Biden is bailing out Silicon Valley Bank or not remains a matter of debate. While the Biden administration denies any involvement, Matt Stoller's article suggests otherwise. Regardless of the truth, the controversy highlights the ongoing battle between Silicon Valley and Washington, DC, about how tech startups are financing their growth and which institutions are backing them. https://inflationprotection.org/matt-stoller-claims-biden-is-bailing-out-silicon-valley-bank-despite-bidens-denial/?feed_id=86374&_unique_id=6433ef000d384 #Inflation #Retirement #GoldIRA #Wealth #Investing #bailout #BigBanks #democraticparty #democrats #GOP #JoeBiden #progressive #ProgressivePolitics #republicanparty #republicans #rising #siliconvalleybank #svb #BankFailures #bailout #BigBanks #democraticparty #democrats #GOP #JoeBiden #progressive #ProgressivePolitics #republicanparty #republicans #rising #siliconvalleybank #svb
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