Banking Crisis Getting Worse – OVER 20 PRIVATE JETS LAND IN OMAHA ON SATURDAY
The collapse this past week of two banks is being followed by distress in the rest of the banking industry.
Silicon Valley Bank (SVB) on the west coast and Signature Bank on the east coast both catered to businesses and were tied to the technology industry and start-ups.
The tech industry has been experiencing problems due to sharp falls in cryptocurrencies. These are the largest banking failures since 2008.
With the fall of the two banks, the Federal Deposit Insurance Corporation stepped in to take over both banks, and an agreement was reached by Treasury Secretary Ja …