You’ve probably heard by now that the Silicon Valley Bank (SVB), headquartered in the Democratic Party’s largest cash cow other than Hollywood, collapsed on Friday. Federal regulators stepped in and seized the bank on Friday morning.
The entire federal government then sprang into action and scrambled around the clock over the three-day weekend to save Oprah Winfrey’s money. Don’t you wish the Biden regime could expand that kind of energy to try to help the people of East Palestine, Ohio?
SVB is a small bank used by Silicon Valley elites, movie stars, tech oligarchs and other ultra-wealthy Democrat Party donors. And rather than doing the right thing and simply letting the bank fail like any other business would in that situation, Team Biden has decided to do the absolute worst thing possible.
Treasury Secretary Janet Yellen announced over the weekend that the federal government would be fully bailing out all the donors. Rather than ensuring each depositor up to $250,000, as stipulated under FDIC rules since the 2008 meltdown, the government is going to shore up the entirety of Oprah Winfrey’s $500 million that she allegedly had in the bank.
Tech companies like NerdWallet, Stripe and Patreon also had the entirety of their funds tied up in SVB, and were reportedly unable to pay employees the other day.
Please read more at below URL: