The Biden administration is investigating the collapse of Silicon Valley Bank, a major financial institution for tech entrepreneurs, to ensure accountability for those responsible. They are looking into bonuses and stock sales made by senior executives in recent years, as well as working with regulators and lawmakers to protect depositors. President Joe Biden has made it clear that those who caused the bank's failure should not profit from it.
Posts tagged as “The White House”
On Tuesday, a Russian Su-27 fighter jet collided with an American MQ-9 Reaper drone over the Black Sea, marking the first direct contact between Russian and US military aircraft since the Russian invasion of Ukraine. The US Air Force reported that the Russian jet intentionally flew in front of and dumped fuel in front of the unmanned drone, which was brought down in international waters. The White House called the intercept "reckless" and the US Air Force is currently investigating the incident. The collision is a reminder of the tensions between the two countries and the need for increased communication and cooperation.
The White House has called for former Vice President Mike Pence to apologize for a joke he made about Transportation Secretary Pete Buttigieg's parental leave at the annual Gridiron Club dinner. The joke has been deemed offensive and inappropriate, as it treated women suffering from postpartum depression as a punchline. Karine Jean-Pierre, White House press secretary, has stated that Pence should apologize to women and LGBTQ people for the joke.
Mike Pence's joke about Transportation Secretary Pete Buttigieg at the Gridiron Club dinner on Saturday has been met with criticism from the White House, who called for an apology. Chasten Buttigieg, the Secretary's husband, also tweeted in response to the joke. The Biden administration has made it a priority to combat discrimination against LGBTQ+ individuals, and has taken steps to ensure all federal employees have access to paid parental leave.
President Joe Biden has sought to reassure Americans that the nation's financial systems are safe following the closure of two banks, Silicon Valley Bank and Signature Bank, on Friday. The U.S. Treasury, Federal Reserve, and FDIC have guaranteed all deposits and stated that the measures taken to protect SVB deposits will not be funded by taxpayers. Shareholders and bondholders of the failed banks will not be compensated for their losses.
Key takeaways: The Federal Deposit Insurance Corporation (FDIC) is responsible for insuring deposits up to $250,000. Treasury Secretary Janet Yellen said the federal government would…
Key takeaways: Silicon Valley Bank suddenly shut down, leaving businesses and workers around the world scrambling to figure out how to manage their finances. Governor…
After decades of rivalry, Saudi Arabia and Iran have restored diplomatic ties with the help of China. U.N. Secretary-General António Guterres praised China for its successful negotiations, while the White House expressed concern over its lack of involvement. The agreement comes at a time when negotiations between Iran and the United States to revive the 2016 nuclear deal are faltering, raising questions about the future of US influence in the region.