Markets dive while Biden makes short address blaming Trump.
The whole debacle was caused by wild raises in interest rates to plug inflation from Joe’s massive give-away to Ukraine. So he blames “previous administration”. Re-assures the public failed bank presidents will be fired (not arrested).
Then he fled without answering any questions.
LINK – https://www.youtube.com/watch?v=rJXyRYJBLEE
UPDATES:
LINK – https://www.youtube.com/watch?v=BugZ-zo8nB8
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Credit Suisse shares fall to new record low after collapse of SVB and Signature Bank
flying cuttlefish picayune 
Bank stocks fall on Silicon Valley Bank contagion fears
https://finance.yahoo.com/video/bank-stocks-fall-silicon-valley-132603162.html
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First Republic’s stock paused for trading as regional bank jitters persist despite Fed backstops
https://www.marketwatch.com/story/first-republic-banks-stock-slides-amid-continuing-jitters-about-regional-banks-72b17977?mod=home-page
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Charles Schwab shares head for worst day ever, CFO defends firm
https://www.msn.com/en-us/money/markets/charles-schwab-shares-head-for-worst-day-ever-cfo-defends-firm/ar-AA18zui7
(the stock is rising in recent hours)
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Reddit –
The collapse of Silicon Valley Bank (SVB) is part of a pre-planned controlled demolition of the banking industry in order to implement Central Bank Digital Currencies (CBDCs). CBDCs will be presented as the solution to the coming banking crises.
https://www.reddit.com/r/conspiracy/comments/11ppvg2/the_collapse_of_silicon_valley_bank_svb_is_part/
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Top Silicon Valley Bank execs worked at notoriously troubled Lehman Brothers, Deutsche Bank
https://nypost.com/2023/03/13/silicon-valley-bank-execs-worked-at-lehman-brothers-deutsche-bank/
more coverage from The Post –
https://nypost.com/tag/silicon-valley-bank/
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$100BN wiped off US banking market in SINGLE DAY as former White House adviser calls it ‘tip of the iceberg’: Bloodbath on Wall Street saw regional banks fall by up to 60% and the Big Four drawn into SVB’s collapse contagion\
https://www.dailymail.co.uk/news/article-11855573/100BN-wiped-banking-market-SINGLE-DAY-bloodbath-Wall-Street.html
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Taxpayers ARE on hook for bank bailout – and could even fund bankers’ bonuses: Fed’s new $25BN loan scheme for troubled institutions risks huge losses for the government after SVB collapse – despite Biden’s claims it’s not a bailout
https://www.dailymail.co.uk/news/article-11854493/Taxpayers-hook-bank-bailout-following-Silicon-Valley-Bank-collapse.html
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Credit Suisse shares fall to all-time low as bank announces it has found ‘material weakness’ – just hours after Wall Street expert predicted that it would be the next to fall after SVB
https://www.dailymail.co.uk/news/article-11857123/Wall-Street-expert-predicts-Credit-Suisse-bank-fold.html
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Moody’s cuts outlook for the entire US banking sector to ‘negative’ – but troubled regional bank shares surge more than 50% in stunning rebound as contagion fears ease
https://www.dailymail.co.uk/news/article-11857957/Banks-rebound-shares-rising-50-early-trading-dramatic-plunges.html
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SVB’s collapse makes it impossible to say what stocks are worth as bond-market volatility explodes
https://www.marketwatch.com/story/svbs-collapse-makes-it-impossible-to-say-what-stocks-are-worth-as-bond-market-volatility-explodes-70129340?mod=home-page
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Wall St. on Parade – At Year End, 4,127 U.S. Banks Held $7.7 Trillion in Uninsured Deposits; JPMorgan Chase, BofA, Wells Fargo and Citi Accounted for 43 Percent of That
https://wallstreetonparade.com/2023/05/at-year-end-4127-u-s-banks-held-7-7-trillion-in-uninsured-deposits-jpmorgan-chase-bofa-wells-fargo-and-citi-accounted-for-43-percent-of-that/
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