The bank's meltdown, sparked by a massive surge of withdrawals, has left depositors worried they may not see their money again. CBS2's Cristian Benavides has the story.... ( read more )
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Earlier this month, the chairman of the Federal Reserve, Janet Yellen, stated that no bailout is planned for Silicon Valley Bank. This news may have come as a surprise to many who assumed that a bank in Silicon Valley would be deemed too important to fail. However, Yellen's statement is in line with the current policy of the Federal Reserve to avoid bailouts of individual institutions in favor of maintaining market stability through regulation and oversight. This policy was put in place following the financial crisis of 2008, which saw large bailouts of banks deemed "too big to fail." Si
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 :)