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Biden Calls for Tougher Penalties for Bank Executives and Stronger FDIC Oversight
In the wake of the recent collapse of Silicon Valley Bank, Signature Bank, and other regional banks, President Joe Biden has urged Congress to approve measures enacting tougher punishments on banking executives if mismanagement contributed to their institutions failing. “Congress must act to impose tougher penalties for senior bank executives whose mismanagement contributed to their […]
Continue reading US Banking Crisis: FDIC Takes Control, Market Panic, and the Impact on Credit Availability
The US banking system has been thrown into a state of turmoil over the past week, with the Federal Deposit Insurance Corporation (FDIC) taking control of Silicon Valley Bank, the second US regional bank Signature Bank being shut down, and the third – First Republic Bank – being propped up. These collapses, combined with the […]
Continue reading Credit Suisse Crash and Debt Increase: Is the Market Approaching Its Lehman Moment?
The market may be nearing its Lehman moment yet again, according to Art Cashin, the director of floor operations at UBS.[0] Panic has spread overseas to Credit Suisse, which saw its stock plunge 30% in a day after a top shareholder said it could not provide further financial support due to a regulatory limit.[1] Cashin […]
Continue reading The Collapse of Silicon Valley Bank: Examining Regulatory Failure and Responsibility
The collapse of Silicon Valley Bank (SVB) has sent shockwaves through financial markets and raised questions about the efficacy of banking regulations. Primary responsibility for the debacle lies with SVB’s management, but regulators should also shoulder some of the blame for not intervening in a timely manner.[0] SVB had grown dramatically in the five years […]
Continue reading Peter Schiff: US Government Regulations Added Unfunded Liabilities and Worsened Financial Crisis
The recent fall of major banks in the United States and the need for federal intervention has reignited discussions to identify the most effective ways to safeguard the crumbling economies.[0] Economist and gold bug Peter Schiff shared his outlook for the U.S. economy in a series of tweets this week, where he argued that increasing […]
Continue reading Federal Reserve’s March Meeting: Will Interest Rates Increase or Pause?
As the Federal Reserve prepares to hold its next policy meeting on March 21 and 22, investors are split on whether the Fed will raise interest rates by a quarter percentage point or take a pause.[0] This comes after the recent collapse of Silicon Valley Bank (SVB) and subsequent fallout, which has raised market uncertainty […]
Continue reading U.N. and Turkey Extend Black Sea Grain Initiative for 120 Days, Securing Global Food Security
The United Nations and Turkey have announced that a deal allowing the export of Ukrainian grain from Black Sea ports has been extended for 120 days.[0] The agreement was initially brokered by the U.N. and Turkey last July after Russia’s invasion of Ukraine in February 2022 fueled a global food crisis.[1] Russia had initially called […]
Continue reading Bank Contagion Spreads to International Markets: Is Another Global Crisis On the Horizon?
It appears that bank contagion has now reached beyond national borders, leading to the apprehension that the dramatic collapses of the American banks Silicon Valley Bank (SVB) and Signature Bank last week may be the beginning of another worldwide financial disaster.[0] On the back of reports indicating ongoing depositor outflows, the shares of Credit Suisse […]
Continue reading Arts and Cultural Sectors Contribute Impressive Growth to US Economy in 2021
The US government has released figures that reveal the impressive contribution of the arts and cultural sectors to the national economy in 2021.[0] According to the National Endowment for the Arts (NEA) and the Bureau of Economic Analysis (BEA), the total economic value added by the arts and cultural industries grew by 13.7 per cent […]
Continue reading EIA Projects 25-38% Reduction in CO2 Emissions by 2030 and Clean Electricity to Reach 90% by 2030
The U.S. Energy Information Administration (EIA) has projected that increased electrification, greater equipment efficiencies and more zero carbon power sources will reduce U.S. energy-related CO2 emissions through 2050. According to the EIA’s projections, energy-related CO2 emissions should fall 25% to 38% below what they were in 2005 by 2030. This is driven by increased electrification, […]
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