Saturday, March 25

Tag: Janet Yellen


Yellen rules out bailout for Silicon Valley Bank: “We’re not going to do that again”

Washington — Treasury Secretary Janet Yellen said Sunday that the federal government will not provide a bailout for Silicon Valley Bank's investors after the bank was abruptly shuttered, but said financial regulators are "concerned" about the impact to depositors and working to address their needs."During the financial crisis, there were investors and owners of systemic large banks that were bailed out," Yellen said in an interview with "Face the Nation" on Sunday. "And the reforms that have been put in place means that we're not going to do that again. But we are concerned about depositors and are focused on trying to meet their needs." California regulators shut down Silicon Valley Bank on Friday after depositors rushed to withdraw money last week amid concerns about its balance ...