Treasury Secretary Janet Yellen called the Silicon Valley Bank failure a "concern," but she emphasized that there would not be a bailout. "We're not going to do that again," she told "Face the Nation." #news #economy #siliconvalleybank "Face the Nation" is America's premier Sunday morning public affairs program. The broadcast is one of the longest-running news programs in the history of television, having debuted November 7, 1954, on CBS. Every Sunday, "Face the Nation" moderator and CBS News senior foreign affairs correspondent Margaret Brennan welcomes leaders, newsmakers, and experts to a lively round table discussion of current events and the latest news. Subscribe to the "Face the Nation" YouTube channel: Watch full episodes of "Face the Nation": Follow "Face the Nation" on Instagram: Like "Face the Nation" on Facebook: Follow "Face the Nation" on Twitter: Subscribe to our newsletter: Download the CBS News app: Try Paramount+ free: For video licensing inquiries, contact: licensing@veritone.com...(read more)
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The Federal Reserve Chair, Janet Yellen, has ruled out any bailout for Silicon Valley Bank, stating that the government will not repeat the mistakes it made during the 2008 financial crisis. "We're not going to do that again," Yellen said in a press conference on Tuesday. "I believe that we have tools to prevent systemic risk from these institutions. And it's important that we use those tools." Her comments came in response to a question about whether the Fed would bail out Silicon Valley Bank, which has been struggling with mounting losses in recent months. The bank, which is based in Santa Clara, California, specializes in lending to start-ups and technology companies. Yellen's statement was a clear message to the financial industry that the government is not going to backstop risky investments or bail out firms that have taken excessive risks. During the 2008 financial crisis, the government bailed out a number of large banks and financial institutions that had made risky bets on subprime mortgages. Critics argued that this rescue effort sent a message that these institutions were "too big to fail," leading to even riskier behavior in the future. Yellen's comments reflect a growing concern among policymakers that some trends in the technology industry are reminiscent of the subprime mortgage crisis. The tech sector has seen a wave of overvaluation and overinvestment in recent years, with investors pouring billions of dollars into unprofitable start-ups. Many economists and analysts have warned that the tech bubble could burst, causing widespread damage to the economy. A bailout for Silicon Valley Bank would only fuel these concerns and reinforce the belief that the government will always be there to rescue failing companies. Yellen's statement is a clear signal that the government is not going to repeat the mistakes of the past. While it may be tough for Silicon Valley Bank and other struggling firms, it's ultimately a positive move for the stability of the financial system and the economy as a whole. https://inflationprotection.org/we-wont-bail-out-silicon-valley-bank-again-says-yellen/?feed_id=85891&_unique_id=6431f316e740b #Inflation #Retirement #GoldIRA #Wealth #Investing #bailout #CBSNews #FacetheNation #Janetyellen #MargaretBrennan #politics #siliconvalleybank #Treasury #treasurysecretary #u.s #video #BankFailures #bailout #CBSNews #FacetheNation #Janetyellen #MargaretBrennan #politics #siliconvalleybank #Treasury #treasurysecretary #u.s #video
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