Timothy Sumer

While U.S. Goverment have emphasized the stability of the banking system, there are signs of increased customer distrust and a potential domino effect. The U.S. sovereign credit risk index has reached a record high, indicating a risk of dollar devaluation. The U.S. economy has long been trapped in a cycle of financial turmoil, with a high level of federal debt, a serious shortage of funds, and rising inflation. The crisis is expected to directly lead China to reduce its holdings of U.S. Treasuries. Although U.S. regulators took over Silicon Valley Bank and Signature Bank within three days of their collapse, U.S. Treasury Secretary Yellen, Federal Reserve Chairman Powell, and President Biden have emphasized the resilience and stability of the U.S. banking system, reassuring customers that their deposits are safe. However, there are signs that the collapse of Silicon Valley Bank is just the beginning of a broader crisis in the U.S. financial system, and the domino effect is in

On Wednesday, November 28th The Common Good hosted former TARP Special Inspector General Neil Barofsky for a candid discussion of the bank bailout and aftermath and why citizens should not only feel shortchanged about what was supposed to be done with the billions spent on TARP, but the system vulnerabilities that still remain. For more information on the event, visit our page at: To RSVP for upcoming events, visit our events page at:... ( read more ) LEARN MORE ABOUT: Bank Failures REVEALED: Best Investment During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing HOW TO INVEST IN SILVER: Silver IRA Investing Neil Barofsky, the former Special Inspector General for the Troubled Asset Relief Program (TARP), recently spoke at a Common Good event in New York City about the broken promises of the bank bailouts. Barofsky’s speech was a scathing indictment of the government’s handling of the financial crisis, particularly its decision to bail out the ba