The failure of three banks in the last two weeks, including Silicon Valley Bank and Signature Bank just this weekend, is a saga of utter government incompetence.
Call these bank collapses Biden’s Banking Busts. The administration has been obsessing on woke causes while banks teeter toward insolvency.
Three days before Silicon Valley Bank’s Friday failure, Treasury Secretary Janet Yellen cautioned that climate change puts the banking industry at risk.
Yellen was in la-la-land, speculating that future storms and tornadoes could diminish the value of banks’ assets.
Weather is a risk, but she was oblivious to the much more immediate problem facing banks — the plummeting value of the bonds they own.
IMPEACH NOW !!!! Wall Street is NEXT !!!!