They laid off 7,000 in 2023.... (They are laying off even more people and expect pay out $1 Billion + in severance pay) The company is paying $1.7 Billion in addition to an addtional $1.6 Billion they paid and counted as losses .... Let's see? That add's up to about … [Read more...] about Citigroup Bank cutting 20,000+ jobs due to loses…..
FDIC/Federal Deposit Insurance Corporation
Three of the largest-ever bank failures have happened since March….
The banks were all cartering to the tech industry which has had massive lay-off since the pandanmic subsided.... First Republic Bank was seized by federal regulators early Monday and sold to JPMorgan Chase Bank. The San Francisco-based bank became the third to fail this year, … [Read more...] about Three of the largest-ever bank failures have happened since March….
Fed’s setting up more money to back up the banks…..
Don't call it what it is.... Circa 2008/2009? The Federal Government is seeking to' bail out 'the banks depossits IN WHOLE...... The 'crisis' mode has dropped from the headlines but things ain't normal for the industry which has tried to prop up things on it's own with … [Read more...] about Fed’s setting up more money to back up the banks…..
Breaking….Feds WILL fund Silicon Bank money
I told ya so…… President Biden who has been here before is NOT going to sit by while some lawmakers talk about leaving thousands of people to NOT get paid because the 16th largest bank ran out of money…. This is a act to stop possible OTHER bank runs… This is breaking … [Read more...] about Breaking….Feds WILL fund Silicon Bank money
Nobody REALLY knows if the Feds will have to bail out* banks….
The media reports have some saying the Federal Reserve WILL NOT supply the money tho bail out the Silicon Valley banks failure.... Don't take that as gospel.... The answer will become more clearer this coming week.... The SVB has all it's accounts at $250,000 and under … [Read more...] about Nobody REALLY knows if the Feds will have to bail out* banks….
Big Tech California Bank taken over by the Feds after running out of money…..
Silicon Valley Bank had a run on its deposits and simply ran out of money.... The Federal Deposit Insurance Corporation. has taken over the bank and will cover accounts UNDER $250,000.... Those over that will have to wait in line..... The FDIC has moved the assets into a … [Read more...] about Big Tech California Bank taken over by the Feds after running out of money…..