This Is Hell! cover image

Botching the Coverage of a Bank Run / Dean Baker

This Is Hell!

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Is the US Banking System Sound?

11 of the largest US banks are now providing up to $30 billion to support San Francisco based first Republic regional bank. Why save one bank but not the other? I think it's simply because the Silicon Valley bank came first and they just want to stop the contagion, he says. Treasury Secretary Janet Yellen told the Senate Finance Committee on Thursday that the US banking system is quote unquote sound.

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