Tag: Political/general news
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Silicon Valley Bank’s former parent company says FDIC seized about $2 billion in cash
Silicon Valley Bank’s former parent company cannot access about $2 billion it deposited with the bankrupt bank after regulators froze the company’s accounts and are investigating whether it should bear costs related to the bank’s bankruptcy . Lawyers for SVB Financial Group, the holding company that formerly controlled the now-defunct bank, alleged Tuesday at the […]
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What the Fed’s next move means for mortgages, loans and credit cards
The bar Americans must clear to get approved for loans and credit cards is likely to rise along with interest rates, due in part to the fallout from the collapse of Silicon Valley Bank. The Federal Reserve is expected to raise rates again on Wednesday, though some economists say it could go on hiatus this […]
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From Zero to Hero – WSJ
President Joe Biden at the University of Nevada, Las Vegas, March 15. Photo: Ethan Miller/Getty Images Isn’t it bizarre that so many people who cause problems then turn around and become heroes who solve the same problems they caused? Between the $1.9 trillion US bailout from the Biden administration and the green-laden $738 billion Inflation […]
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Senator Elizabeth Warren is calling for an independent inquiry into the Fed’s banking regulations
Published: March 19, 2023 at 7:05 PM ET Senator Elizabeth Warren is calling for an independent investigation into the Federal Reserve and “the entire regulatory system” following the banking sector’s worst crisis in more than a decade. On Sunday, the Massachusetts Democrat told ABC News’ This Week that the chaos of the past few weeks […]
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Can I evict tenants who have lived in a house I inherited for years without a lease?
I inherited a house in San Francisco from my aunt. My aunt had rented her basement (probably illegally) to an elderly couple for a few years at a price below market price. I don’t believe there was a lease, and it’s probably against the building code to have tenants in the basement. The couple’s family […]
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Virgin Orbit, Richard Branson’s satellite launch, has fallen fast
Two months ago, Richard Branson’s Virgin Orbit VORB -9.14% Holdings Inc. was about to make history by launching the first satellites into orbit from the billionaire’s homeland of the UK That high-profile launch from Cornwall, England went badly, ending in the destruction of the satellite payload and sparking an investigation into what went wrong. Virgin […]
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SVB Financial Files for Chapter 11 Bankruptcy Protection
Silicon Valley Bank’s parent company filed for bankruptcy, facilitating the sale of its remaining assets after the technology-focused bank at its core was seized by federal regulators. SVB Financial Group filed for Chapter 11 protection in New York bankruptcy court on Friday, the largest bankruptcy filing due to a bank failure since Washington Mutual Inc. […]
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First drugs to face Medicare price penalty called
U.S. health officials released the first list of drugs paid for by the government’s Medicare insurance program whose prices rose more than inflation and will be fined under a new federal law. The Centers for Medicare and Medicaid Services on Wednesday named 27 medications that had the big price increases, including AbbVie’s rheumatoid arthritis treatment […]