The US will do "whatever is needed" to shore up banks after a string of failures raised fears about financial stability, President Joe Biden said.
His comments came after the US guaranteed all deposits at Silicon Valley Bank and Signature Bank, which both collapsed last week.
'That's how capitalism works,' Biden says of SVB, Signature Bank investors who lost ...
WASHINGTON — President Joe Biden sought to assure customers of Silicon Valley Bank and Signature Bank on Monday that their money was safe — insured by the Deposit Insurance Fund — but said investors in the failed banks' securities aren't going to get the same guarantee.
The nation's top bank regulators on Sunday announced the Federal Deposit Insurance Corp. and Federal Reserve would fully cover deposits at both failed banks and rely on Wall Street and large financial institutions — not taxpayers — to foot the bill .
Worried SVB customers queue up in Wellesley to get money, answers - The Boston Globe
The Wellesley branch of Silicon Valley Bank was a scene of crowding and confusion on Monday morning, as dozens of customers lined up to withdraw money and close accounts at the failed California-based bank.
Though most had heard about the Sunday night government plan to safeguard and make available all SVB deposits, even in accounts above the $250,000 insured maximum, those in line were not reassured.
Making more money can boost your happiness - CBS Miami
MIAMI - A recent study finds the relationship between money and happiness may be more complex than previously thought.
For most people, researchers said, more money meant more happiness, but noted "if you're rich and miserable, more money won't help."
Can Money Buy Happiness? What to Know When You're on a Tight Budget
Can money buy happiness? If you said no, you’re not alone. If we’ve heard it once, we’ve heard it a million times: Money can’t buy happiness.
“Fake news!” says Elizabeth Dunn, PhD, a psychology professor at the University of British Columbia and author of Happy Money: The Science of Happier Spending . “People treat this like a fact, but the science shows it just isn’t true.”
Whoa! Here it is. The moment in 2018 when Donald Trump removed the Dodd-Frank regulations that would have prevented… https://t.co/mgdm9e9ITu MeidasTouch Sun Mar 12 04:43:28 +0000 2023
At my direction, @SecYellen and my National Economic Council Director worked with banking regulators to address pro… https://t.co/ebbT6FocxT POTUS Mon Mar 13 00:48:34 +0000 2023
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