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So why would you not say the same for the folks spearheading their closure? Yellen has gotten multi million checks from banks
by ESTheComposer 4y ago
So why would you not say the same for the folks spearheading their closure? Yellen has gotten multi million checks from banks
- bb88 4y agoSVB was actually shut down by state banking regulators, not the FDIC or Fed itself (Yellen is the Fed). The state of California then listed the FDIC as the receiver of the bank's assets. So I believe this was purely the work of the banking regulators and not the Fed. FDIC called the Fed for help to reduce the contagion, and the Fed agreed. It's possible the Fed didn't have to agree... https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/silicon-valley-faq.html#:~:text=On%20Friday%2C%20March%2010%2C%202023,FDIC)%20was%20then%20appointed%20Receiver https://www.fdic.gov/resources/resolutions/bank-failures/fai....
- ESTheComposer 4y agoYellen has been intimately involved in the process so I don't think there's too much of a difference right now, especially since they all had a zoom call including hundreds of senators at like 1 in the morning over the weekend.