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Posts tagged as “A Lifetime Honorary Trustee”

Treasury Secretary Janet Yellen: “We Are Concerned About Depositors and Are Focused on Trying to Meet Their Needs” Following Silicon Valley Bank Collapse

Treasury Secretary Janet Yellen said Sunday that the federal government will not provide a bailout for Silicon Valley Bank's investors, but is "concerned" about the impact to depositors and is working to address their needs. Silicon Valley Bank, a go-to bank for US tech startups, collapsed Friday morning and was taken over by federal regulators, making it the largest US bank failure since Washington Mutual in 2008. It is unclear what will happen to the bank's customers and investors, but financial regulators are working to address the needs of depositors.