As you know, Silicon Valley Bank and Signature Bank have failed and now Credit Suisse is teetering:
The stock market opened with steep losses Wednesday as concerns about the health of Credit Suisse triggered fears of a broader banking crisis.
The Dow Jones Industrial Average opened with a loss 1.5 percent Wednesday, a decline of almost 500 points after the opening bell. The S&P 500 index opened with a loss of 1.4 percent and the Nasdaq composite opened with a loss of 1.1 percent.
Stock futures began selling off before the stock market opened Wednesday as U.S. traders watched shares of Credit Suisse plunge more than 30 percent in overseas trading, according to CNBC. Investors began to lose confidence in the bank after the chairman of the Saudi National Bank, Credit Suisse’s largest investor, told Reuters that the Saudi central bank would not boost its investment in the troubled Swiss firm.
Tucker Carlson took a look at what some executives at the collapsed banks had been at least partly focusing on before the crash. Suffice to say it had nothing to do with banking:
Signature Bank Was Too Busy Teaching Pronouns & Making Music Videos Before It All Fell Apart@TuckerCarlson: "No one at any of these banks seems to spend a lot of time BANKING!" pic.twitter.com/7EaYhUF4Vd
— The Vigilant Fox 🦊 (@VigilantFox) March 15, 2023
Here’s the entire segment. Watch:
Could those banks have stayed in business a little longer if there would have been more focus on banking?
The people you're bailing out….laughing at you. https://t.co/HqtzxB1nFK
— Jakub Kochan (@Jake4Liberty_v2) March 15, 2023
Woke literally went broke! Then, the victims (SVB members/employees.) of their own wokeness get reimbursed by the woke (Biden Administration) “rights” authority! 👥🇺🇸💰🙄 https://t.co/tPg79Z3rba
— Keith H (@Keithhinton8) March 15, 2023
Helps to actually do banking principles. If you’re in a bank like this get out.
— Okie Patriot (@Davrph64) March 15, 2023
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Related:
Paul Sperry reports DEVELOPING story on startling connection between Janet Yellen and #SVBCollapse
Senator asked if there was some way to censor SVB news in order to prevent run on banks
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Glenn Greenwald throws a wrench in Robert Reich’s attempt to blame Trump for the SVB failure
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