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Posted On: 03/19/2023 6:27:56 PM
Post# of 126797
Where did the billions dollars go , could be the answer. JMHO
Janet Yellen Drops Bombshell on Silicon Valley Bank Bailout Scandal: Fed Can't ‘Discriminate' Against Chinese Investors
Story by Claude Wooten • 11h ago
SIVB
-60.41%
IN THIS ARTICLE
SVB FINANCIAL GROUP
SIVB
▼-60.41%
Sen. James Lankford of Oklahoma grilled Fed Chair Janet Yellen, demanding to know if Chinese bank depositors would be among those “made whole” by the Federal Reserve in the wake of the Silicon Valley Bank failure.
Janet Yellen
Janet Yellen
© Provided by 2Paragraphs
Lankford specifically asked whether companies directly related to the Chinese Communist Party (CCP) would see their deposits in SVB refunded in full by the US government as part of the rescue.
“What I’m asking,” Lankford said, “is will my banks in Oklahoma pay a special assessment to be able to make Chinese investors whole?”
Yellen answered in the affirmative, saying: “Uninsured investors will be made whole in that bank and I suppose that could include foreign depositors, but I don’t believe there’s any legal basis to discriminate among uninsured depositors.”
jmho
Janet Yellen Drops Bombshell on Silicon Valley Bank Bailout Scandal: Fed Can't ‘Discriminate' Against Chinese Investors
Story by Claude Wooten • 11h ago
SIVB
-60.41%
IN THIS ARTICLE
SVB FINANCIAL GROUP
SIVB
▼-60.41%
Sen. James Lankford of Oklahoma grilled Fed Chair Janet Yellen, demanding to know if Chinese bank depositors would be among those “made whole” by the Federal Reserve in the wake of the Silicon Valley Bank failure.
Janet Yellen
Janet Yellen
© Provided by 2Paragraphs
Lankford specifically asked whether companies directly related to the Chinese Communist Party (CCP) would see their deposits in SVB refunded in full by the US government as part of the rescue.
“What I’m asking,” Lankford said, “is will my banks in Oklahoma pay a special assessment to be able to make Chinese investors whole?”
Yellen answered in the affirmative, saying: “Uninsured investors will be made whole in that bank and I suppose that could include foreign depositors, but I don’t believe there’s any legal basis to discriminate among uninsured depositors.”
jmho
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