From WSJopinion: No law, rule or regulation can spare the economy from the consequences of bad policies, especially bad monetary policies, which can turn even the safest of assets into a ticking time bomb
Review and Outlook: While politicians, the Fed and Treasury will try to blame bankers for the latest financial mess, they are as much, if not more, culpable. Images: Zuma Press/AFP/Getty Images Composite: Mark KellyOne surprise for investors in the Silicon Valley Bank failure is that it didn’t hold exotic derivatives, structured debt products or other horrors that caused so much financial carnage 15 years ago. Far from it.
Bad management and negligent oversight from the San Francisco Federal Reserve Bank played a role. But the politicians and regulators who supposedly fixed the financial system after 2008 share responsibility. The banking rules they introduced after 2008 made sovereign bonds such as Treasurys and the mortgage securities of Fannie Mae and Freddie Mac the coin of the realm for bank capital standards.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Biden Claims U.S. Banking System Is ‘Safe’ After SVB CollapseNEW: “Americans can rest assured that our banking system is safe,” Biden said in a statement at the White House.
Consulte Mais informação »
'Banking system is safe,’ Biden says after Silicon Valley Bank shutdownThe president blamed his predecessor for scaling back bank regulations, a decision that he said contributed to the collapse of Silicon Valley Bank and the closure of Signature Bank.
Consulte Mais informação »
Banking shares slump despite U.S. assurances that deposits are safeThe declines come despite emergency measures by regulators to protect depositors at Silicon Valley Bank and Signature Bank and President Biden's remarks to reassure Americans.
Consulte Mais informação »
President Biden tells US to have confidence in banks after Silicon Valley collapsePresident Joe Biden is telling people in the U.S. that the nation's financial systems are sound.
Consulte Mais informação »
Biden seeks to calm Americans that U.S. banking system is safe after SVB failureBiden’s remarks followed an announcement by his administration Sunday night that all depositors at SVB would have access to all their money on Monday morning — an extraordinary intervention aimed at averting a crisis in the financial system.
Consulte Mais informação »
President Biden tells US to have confidence in banks after Silicon Valley collapse'Americans can have confidence that the banking system is safe,' Biden said on Monday morning.
Consulte Mais informação »