Emma Stoltzfus
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State Department says WSJ reporter Evan Gershkovich is wrongfully detained
The State Department officially determined Wall Street Journal reporter Evan Gershkovich is wrongfully detained by Russia. Gershkovich was arrested in March and accused of espionage by Russia’s Federal Security Bureau. “Journalism is not a crime. We condemn the Kremlin’s continued repression of independent voices in Russia, and its ongoing war against the truth,” State Department… -
Top 3 things you need to know about the looming credit crunch crisis
As the dust starts to settle following the collapse of Silicon Valley Bank and Signature Bank in March, economists are warning of cracks in the system that started spreading even before the failures. Under conditions of banking turmoil, some are worried credit tightening will become a credit crunch crisis. No. 1: What is a credit… -
Jimmy Buffett joins the billionaire club. These 5 artists got rich outside of music.
Prolific musicians have been making a killing over the last few years selling the publishing rights to their music catalogs. But the wealthiest acts are making their riches outside of the recording studio. Here are the richest artists who cashed in on their business prowess to become billionaires in this week’s Five For Friday: #5:… -
The banking crisis is ‘not over’ — and another crisis is already looming
As the dust starts to settle following the collapse of Silicon Valley Bank and Signature Bank in March, economists are warning of cracks in the system that started spreading even before the failures. Under conditions of banking turmoil, some are worried credit tightening will become a credit crunch. “I’m getting really nervous now that an economy that I… -
Small business could struggle to get credit as banks face record withdrawals
An increasing number of banks, large and small, reported tightening credit standards to start off 2023, even before the banking turmoil that began in March. But smaller banks are now getting hit twice as hard as customers move deposits away from regional institutions, which could put some small businesses in further peril. In the week… -
Banking crisis ‘hiding in plain sight,’ Chase CEO Jamie Dimon says
The CEO of the largest bank in the U.S. is warning the government to avoid “knee-jerk, whack-a-mole or politically motivated responses,” to the latest bank failures. JPMorgan Chase leader Jamie Dimon has been meeting behind the scenes with regulators and other bank leaders over the past month but commented publicly on the banking crisis for… -
Bankruptcy filings surpassed pandemic peak even before bank crisis took hold
On Tuesday, April 4, Richard Branson’s satellite-launching company Virgin Orbit filed for Chapter 11 bankruptcy. The company failed to find a funding lifeline following a launch failure and is now looking to sell its assets. When a public company like Virgin Orbit goes bankrupt, there is no shortage of headlines. But there’s an undercurrent happening… -
What’s a credit crunch? The feared bank phrase that may lead to a recession
As the dust starts to settle following the collapse of Silicon Valley Bank and Signature Bank in March, economists are warning of cracks in the system that started spreading even before the failures. Under conditions of banking turmoil, some are worried credit tightening will become a credit crunch. A credit crunch is a decline in lending… -
SVB CEO sold millions in stock before collapse. Politicians want to claw it back.
Mere hours before the federal government seized it, Silicon Valley Bank paid out employee bonuses. In response, a bipartisan group of lawmakers have introduced legislation to recoup funds from bank executives in the event of future failures. While the timing appeared suspicious, the SVB bonuses were a part of employees’ annual payout and planned in… -
Top 4 things you need to know about how safe banks are right now
When Silicon Valley Bank and Signature Bank collapsed in a matter of days, it was a stark reminder to the American people that U.S. banks do fail. More than that, while all uninsured depositors were spared in these two bank failures, that’s not always the case. No. 1: Bank failures happen a lot more often… -
Banks are seen as safe but uninsured customers have been burned before
When Silicon Valley Bank and Signature Bank collapsed in a matter of days, it was a stark reminder to the American people that U.S. banks do fail. More than that, while all uninsured depositors were spared in these two bank failures, that’s not always the case. Given the media storm around this month’s bank failures, it… -
The FDIC insures up to $250,000 in bank deposits. Is it time to increase that cap?
Banks in the U.S. fail nearly every year and depositors aren’t always made whole, like the federal government did at Silicon Valley Bank and Signature Bank in March. Since 1993, customers of 76 different institutions have lost money in a bank, from hundreds to millions, according to the Federal Deposit Insurance Corporation. Before the 2008… -
Bank failures happen more than you think. Here’s why SVB was different.
When Silicon Valley Bank and Signature Bank collapsed in a matter of days, it was a stark reminder to the American people that U.S. banks do fail. More than that, while all uninsured depositors were spared in these two bank failures, that’s not always the case. Given the media storm around this month’s bank failures,…
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