Tag: government of the United States
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Bank failures: fury in Congress, but division over what to do
WASHINGTON (AP) — Bills were filed, hearings scheduled and blame laid as Congress reacted to the abrupt bankruptcy of two banks last week. A look at what lawmakers are saying and planning as the fallout from the collapse of Silicon Valley Bank and Signature Bank continues. QUICK LEGAL FIXES LIKELY While President Joe Biden called […]
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Yellen declares that the banking system is fine, as new bailouts have ordered
WASHINGTON (AP) — Treasury Secretary Janet Yellen offered firm, optimistic reassurances to rattling bank depositors and investors Thursday, even as US financial institutions and European agencies ordered fresh bailouts after the second largest bank collapse in US history. Closely, sometimes aggressively questioned, Yellen told senators at a hearing at the Capitol that the U.S. banking […]
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Credit Suisse shares soar after central bank offers lifeline
GENEVA (AP) — Shares of Credit Suisse rose Thursday after the Swiss central bank agreed to lend the bank up to 50 billion francs ($54 billion) to bolster confidence in the country’s second-biggest lender after the collapse from two US banks. Credit Suisse announced the deal before the Swiss stock market opened, sending shares up […]