Government won’t bail out Silicon Valley Bank, which paid workers bonuses hours before collapse
“Even when we were coming out of the pandemic, we had the Biden administration spending a lot of money"
By News on the Net -- New York Post—— Bio and Archives--March 12, 2023
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The federal government won’t bail out the failed Silicon Valley Bank, Treasury Secretary Janet Yellen said Sunday — after it emerged that the bank’s workers landed bonuses just hours before Friday’s collapse.
Depositors could now get back as little as 30% of their money during an anticipated run on the bank Monday morning, a report said Sunday. ---More...
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