US Treasury Secretary Janet Yellen has spoken to Face The Nation and says there’ll be “no bailout” of Silicon Valley Bank after its collapse, according to CommSec’s Craig James. “They’re focused on protecting the depositors and insured deposits of up to $250,000 likely to be paid later today,” he told Sky News Australia. “It is a big week, and we’ll be watching the news flow coming out from the Federal Reserve, the regulators … and also the Treasury Secretary again, Janet Yellen.” Presented by CommSec.... ( read more )
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The US Treasury Secretary, Steven Mnuchin, has made it clear that there will be no bailout for Silicon Valley Bank following its collapse. Speaking at a press conference on Tuesday, Mnuchin stated that the bank's failure was due to poor management and risky investments,
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