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Treasury secretary: No federal bailout for Silicon Valley Bank The US Treasury Secretary, Steven Mnuchin, announced on Wednesday that there will be no federal bailout for Silicon Valley Bank, despite its request for help. Silicon Valley Bank, which provides banking services to technology startups and venture capitalists, had requested a federal bailout due to its exposure to the struggling tech industry. The bank's clients have been hit hard by the economic fallout from the COVID-19 pandemic, and many are struggling to keep their businesses afloat. However, Mnuchin stated that Silicon Valley Bank's situation did not meet the criteria for a federal bailout. He said that the bank's exposure to the tech industry was a risk that
Timothy Sumer is a philanthropist and motivational speaker empowering young entrepreneurs across the nation. He speaks on starting new businesses and the importance of branding in the digital age. Timothy Sumer has a BA in Accounting from NYU and a Masters in Information Technology from MIT. Tim enjoys traveling around the globe, driving exotic sports cars, molecular gastronomy, exploring new cultures, and keeping on top of the latest technology trends. Hope you enjoy Timothy Sumer's page :)