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The US Government Is Suing Itself Over Silicon Valley Bank

Tue, 02/13/2024 - 17:55

Can’t we all just get along? Not if you’re an employee of the federal government. The Internal Revenue Service (IRS) just filed a lawsuit against the Federal Deposit Insurance Corporation (FDIC) over a $1.45 billion tax bill stemming from the bailout of Silicon Valley Bank.

Silicon Valley Bank, economic history of california, business finance, the federal deposit insurance corporation, taxation in the united states, internal revenue service, politics

'Bond King' Bill Gross warns stocks are dangerously overvalued — and predicts an economic slump

Mon, 08/14/2023 - 07:06

Tech Insider

Markets, MI Exclusive, Stocks, Bill Gross, Stock Market Outlook, PIMCO, Bond King

JPMorgan, Bank of America and 4 other Wall Street titans are set to pay $8.9 billion after this spring's banking fiasco

Mon, 08/07/2023 - 07:05

Tech Insider

Employees stand outside of the shuttered Silicon Valley Bank (SVB) headquarters on March 10, 2023 in Santa Clara, California.
Justin Sullivan/Getty Images

Markets, MI Exclusive, Silicon Valley Bank, Signature Bank, banking turmoil, bank crisis, FDIC

JPMorgan, Bank of America and 4 other Wall Street titans are set to pay $8.9 billion after this spring's banking fiasco

Mon, 08/07/2023 - 07:05

Tech Insider

Markets, MI Exclusive, Silicon Valley Bank, Signature Bank, banking turmoil, bank crisis, FDIC

Big banks may cover 95% of the cost to refill the $16 billion hole blown in the FDIC's deposit insurance fund by bank failures

Fri, 05/12/2023 - 10:49

Tech Insider

Silicon Valley Bank customers wait in line at SVBs headquarters in Santa Clara, California on March 13, 2023. — Silicon Valley Bank customers in March.
Noah Berger/AFP

Markets, MI Exclusive, FDIC, FDIC insurance, Federal Deposit Insurance Corporation, Bank failures, Banking Crisis

The family behind First Citizens Bank has seen its wealth double to $2.2 billion after buying SVB's assets out of bankruptcy

Fri, 05/12/2023 - 07:55

Tech Insider

A woman walks in front of a First Citizens Bank branch in Raleigh, North Carolina. — A First Citizens Bank branch in Raleigh, North Carolina. First Citizens Bank has acquired assets from Silicon Valley Bank.
Melissa Sue Gerrits/Getty Images

Markets, MI Exclusive, First Citizens Bank, SVB, Silicon Valley Bank, Silicon Valley Bank collapse, silicon valley bank crisis

PacWest plummets 28% to resume sell-off after the regional bank says deposits fell 9.5% last week

Thu, 05/11/2023 - 09:17

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A branch of regional lender Pacific Western Bank in Whittier, California.
AP Photo/Ashley Landis

Markets, MI Exclusive, PacWest Bank, PACW stock price, Bank stocks, Regional Banks, regional lenders

Mohamed El-Erian says the US is in the second stage of the banking turmoil – and lists 4 ways to avoid a 'significantly damaging' third phase.

Wed, 05/10/2023 - 10:57

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FILE PHOTO - Mohamed El-Erian speaks during the — File photo of Mohamed El-Erian speaking at the 2009 Milken Institute Global Conference in Beverly Hills.
Thomson Reuters

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Warren Buffett and Charlie Munger warned a banking crisis is possible, AI may be dangerous, and government overspending will end badly. Here are their 18 best quotes from Berkshire Hathaway's annual meeting.

Sun, 05/07/2023 - 18:36

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GettyImages 1140985597 — Warren Buffett (left) and Charlie Munger.
JOHANNES EISELE/AFP via Getty Images

Markets, MI Exclusive, Stocks, Warren Buffett, Berkshire Hathaway, Berkshire Hathaway Annual Meeting 2023, Charlie Munger

Warren Buffett says fears of bank runs and a US debt default are dangerous - and people need to be told their deposits are safe

Sat, 05/06/2023 - 14:23

Tech Insider

Silicon Valley Bank, economic history of california, business finance, the federal deposit insurance corporation, taxation in the united states, internal revenue service, politics

Markets, MI Exclusive, Stocks, Bill Gross, Stock Market Outlook, PIMCO, Bond King

Markets, MI Exclusive, Silicon Valley Bank, Signature Bank, banking turmoil, bank crisis, FDIC

Markets, MI Exclusive, Silicon Valley Bank, Signature Bank, banking turmoil, bank crisis, FDIC

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Markets, MI Exclusive, PacWest Bank, PACW stock price, Bank stocks, Regional Banks, regional lenders

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Markets, MI Exclusive, Stocks, Warren Buffett, Berkshire Hathaway, Berkshire Hathaway Annual Meeting 2023, Charlie Munger

Markets, MI Exclusive, Stocks, Warren Buffett, Berkshire Hathaway, Berkshire Hathaway Annual Meeting 2023, US Markets and Economy