Congress doesn't care about solving problems only whining about them. Have they introduced a new immigration bill yet??? Immigration was their LOUDEST WHINE over the last two years. I thought they would introduce a bill to solve that problem. The fact that they've yet again, done nothing means they LOVE to WHINE rather than fix problems. Fixing a banking liquidity problem after causing it isn't their habit. They would rather create the problems. Trump removed community banks from oversight so that this kind of liquidity problem was inevitable . So here we are, this is what they designed..banks going under.
Absolutely. Democrats refuse to show up. The petrodollar is being dumped. The US dollar will no longer be the base currency. America is going down and taking others with her. BRICS rules.
Two years ago, Janet Yellen once said that the federal government is much better at spending money than the citizens who pay the taxes. Well, look where we’re at now….
Government is better at building infrastructure and handling the cost of drugs and medical care than individuals. There are some things that the collective power of government can do better than the tax payer. That's just obvious. You wanna try building your own military? I don't think so.
Senator Lankford is spot on. She is basically fumbling around but confirming Too Big To Fail is still alive and well. Nothing changed since the last crisis ... we learned nothing.
Oh we learned a lot. We learned that part of the bailout money will be spent on lobbyist, after corporate bonuses, so the cycle can keep repeating. Thing is these people are not accounting for WW3 which they are blindly leading us into. The wealthy have extracted all the wealth they can so they turn to inflation to get more wealth. Well that leads to disaster. It always does.
A good step would be to ban anyone with Stein, Cohen or Berg in their names from managing money. They and their people are clearly not very good at managing our money.
They learned they can do what they want. Yellin is a fricking puppet. We have watched the ultra rich continue to get special treatment and the regular people pay the bill. The lower earners will continue to get their handouts. This excuse they don’t want to burn down the system so they have to do this. This means at some point it WILL burn down and there will be nothing they can do about it.
We have the Highest GDP on planet 🌏 earth folks. So that's why they don't care because at the end of the day it falls on the working classes backs. America is a corporation and your their slave and slaves suffer. That's the name of the game folks.
We learned a lot. The corporations and banks didn’t learn a thing, because they were bailed out by us. It’s a fucking joke, because it’s happening again w/o consequence.
Yellen speaks like my 84 year-old grandmother when she's describing her dinner and dessert at Applebee's from the night before. Instead, she's explaining that Brandon delivered on his pledge to protect the ChiComs. Once Brandon is bought, Brandon stays bought.
It's a toss up who is more cognitive impaired, Yellin or Biden. Yellin gives a lot of word salad, Biden just kinda tosses it around minus the dressing!
Until we return to oversight for all banks and cancel the Trump deregulation of community banks. All banks need to have oversight. Last weekend was proof of it.
Remember when the Democrat party defended the working class? Currently, Biden's administration and Yellen chose to bail out wealthy individuals. Republicans are the party currently defending and standing up for the working class.
I truly feel very sorry for fellow Americans, a person like Janet should never be trusted from day one. She should be retired immediately, she does not have any plans for the crises. The middle income people will be held hostage at all costs. God Bless America 🇺🇸🙏🙏🙏
She is a perfect example of how those who have put themselves "in charge" of us have absolutely no business being in charge of the paper goods aisle, let alone monetary policy.
Biden said it was going to be paid for by other banks and these particular greedy incompetent people running the bankrupt banks will be fired. This will not be another 2008 Bush handout to big banks at taxpayer expense.
Nope. Biden said the banks are paying for it not the depositors. Only Repub Presidents, like Bush, require Americans to pay for the incompetence and greed of the rich.
No, we are bailing out depositors who have more than 250,000.00 and we should not! They should lose money and learn not to put their money in woke ass banks that no nothing about banking!!! I think they would have lost about 5 - 10 % of their deposits...
This guy voted to allow the community banks to be free from oversight when he agreed with Trump's deregulation of community banks...because oversight is a burden on the poor guys. Thousands almost lost their savings last weekend because of it.
@@henley7012 thousands of billionaires. Cry us a river my guy. The Fed made the FDIC useless. The government told all banks that their deposits were insured no matter the amount.
Until the Republicans in Congress agree to support needed REGULATIONS that protect bank deposits, this wll be a recurring problem. The Derugulation CURSE began with Ronald Reagan and was revived by Donald Trump. Whether it is a train derailment, or near misses in airline traffic, safety regulations help keep us safe.
Did Langford say anything when Trump removed the Community Banks from oversight?? I think not. He is really just a well paid actor who plays whatever role he's given. If the Repubs are in charge he's for deregulating banks from oversight. When Dems are in charge he's concerned about the rich or regular Americans losing deposits. He really doesn't care about you in any sincere way.
People are now beginning to wake up to the fact that this whole system is a waste of time. When enough people actually wake up and stop working for useless dollars, we will see the real reality of this mess.
Bankers own the system. Is this not obvious to everyone yet? “Give me control of a nations money supply and I care not who makes the laws” -N. Rothschild
Yellen knows exactly what she is doing. Look up her employment history online and you get a clearer picture of just who she is and who she is working for and with.
So, we are not a democracy, We the People can not decide what happens in the United States...Good or Bad...The government steps right in and decides for us...They pull the strings, that is why, they, the people in the government get wealthy and We the People pay the price.
And that is not only going to keep happening but it is going to get worse until Americans use the rights that were given to us by the founders to throw off the yoke of tyranny. You get the hell that you tolerate and the apparently the average American is so filled with sloth, cowardice, and anti-americanism that they have come to favor wearing their yoke proudly because taking any action to remove it would require effort and spine.
The voting allows them to decide for us rather we like their choices or not , Not very many people realize those people aren't in office for us . the pandering for votes in no way is honest.
we are not a democracy, we are a constitutional republic with democratic elections.....everyone repeating "democracy" is a form of brainwashing, it is how they confuse and want you to think... the democrats have been building a socialist/communist democracy inside the institutions of our republic for years....hence the reason they always cry "we have to save our democracy"...they are not referring to our republic but what they are building internally.....
Prompt action by the Fed prevented a run on many other banks. If they had not acted promptly the bank runs would have spread quickly to your community bank. This is on Trump for deregulating community banks so we weren't watching their cash on hand vs lending practices. Higher interest rates are causing a strain on some previously greedy community banks who got used to low interest rates and found themselves unable to deal with higher rates today. Poor planning because Trump made them exempt from oversight, no oversight no planning needed...or so they thought.
@@henley7012 when in doubt blame Trump right? Nevermind the fact that it was the banks job to maintain liquidity and make sure they were in a position to withstand a possible bank run, you know, what banks are supposed to do? It's the banks fault for investing in long duration bonds. It's their fault they took the $1.8b loss.
They purposefully put a cute old lady in place who looks like she bakes good cookies so you look like a cruel villain if you question anything she does.
Yes of course the dishonorable lady Yellen, she was admitted for a while for a screening in my Clinic but then she moved to the Fed against my recommendation
They got lazy and overconfident, and quit covering their tracks, and forgot how to lie well. Just look at Yellen repeating lies even after being told that her comment was empirically inaccurate. Or Democrats bashing journalists for journalism that exposed 1A violations. Clown show can't even begin to describe the circus we are seeing play out rn.
Translation: If you have more than $250,000 in an account insured by FDIC, you need to move the excess to another institution as you will be made whole only upon the whem of the Federal Reserve board members.
'We felt that there was a serious risk of contagion' she said... that statement definitely put everyone's minds at ease and will certainly stop any panic🤣. Stupid or intentional, you decide
This was caught far, far earlier than the 2008 debacle. Now that was a disaster. This has been reduced to a small blip because of quick and decisive action by the Treasury.
As are ALL democrat politicians. They no longer work for we the People. They work for the extremely wealthy, Big Tech, Hollywood Elites, and don't mind crushing the working class to satisfy the wealthy.
This goes way above Yellen....This is the plan...Create more control over the population by driving the little guy out of business!!!....Kind of like RU-vid, Twitter, Facebook...controlling social media
She's already done it. Fired the management, made the depositors whole, and is working to fix the Trump mess created when he exempted Community banks from oversight. The bank rush was confined to two banks and didn't spread to all. Prompt action is possible when the geriatric folks are smart and have good reflexes.
Good for you Senator Lankford. A better question may have been, "What criteria must a bank meet in order for the FDIC/ Fed to cover 100% of all depositors for Banks in Oklahoma?" I wonder if Bancfirst would be covered 100%, I doubt it!! Also, in order to meet reserve requirements, what is considered liquid. I don't think that 10-year bonds are very liquid unless you want to take a giant hit when you cash them in early. My understanding of the SVB failure is that it wasn't because they were insolvent, it was that they simply had liquidity issues. This whole deal stinks to high heaven!!
I found it interesting that the chairman was pushing Senator Lankford to stop because of time constraints, but shut up in a hurry when ms. Yellen wanted to say more.
Senator Lankford makes some strong, thoughtful points. It’s refreshing to hear a Republican politician speak logically about real world issues. I didn’t know there were any left.
Actually Republicans are much more intelligent on average than Democrats. Democrats think men can have babies. Or how about Dems worshipping mRNA injections that are less than half as effective at fighting COVID as sunlight? Or thinking carbon dioxide is a pollutant or that it is manmade? The list of idiotic things Democrats believe out of faith to feel a false sense of superiority is endless.
Thanks for your questions Senator Lankford. You are amazing. Janet Yellen still has no idea how to encourage tax payers and how to encourage business and consistently goes after the goose that lays the gold eggs.
no it goes to Israel to the 500 jewish startup company that have claims they cannot prove, and of course the bank is run from top to bottom from the chosen ones. What about all the bonuses they got before this, and Biden is going fire them what a joke. LOL We should demand they all be put behind bars before they run to Israel, and buy more real assets with tax payer money .
Democrats are spending OUR tax dollars on China, and the extremely wealthy demomocrat base in the tech sector. Republicans defend the working class tax payer. Remember, this is not your grandfather's DNC. This is the wealth defending DNC of the elite.
Those two banks that went under were given enough rope to hang themselves and that's exactly what they did. Not all bankers love their depositors. Most just want MO' MONEY. That's the flood gate that Trump opened when he removed community banks from oversight. They took depositors money and ran for easy profits forgetting to be careful with savings..greed is a curse and must be REGULATED against.
From watching and listening to yellen, she is absolutely unfit to hold the position she is in. It’s disgraceful to see and here her talk, embarrassing. We need someone with a sound mind and a clear understanding of what needs to be done. She’s got to go.
From her powerful response , and her commanding presence , I don't know if I would even let her balance my checkbook without great concern ! What type of job does she perform?
She and her central bank colleagues are in the midst of transferring more wealth to the few banks at the top and hearding everyone's deposits into those banks where it will be much easier to pull off replacing the dollar with digitally programmable CBDCs. Once you have to use programmable "money" to buy or sell anything, your independence and liberty are gone.
The person you're referring to was right about everything, but especially to the facts pertaining to Yellen's people and their typical banking practices.
Read your history. All banks were covered until Trump deregulated the community banks in 2018. This one is on Trump as are all other potential failures until we get them all under oversight rules again.
Listening to Yellen, I had the feeling that whether depositors are covered or not is basically her decision. I have no confidence in her a Chairman of the Fed at this time.
Trump deregulated Community banks in 2018. Yellen is now picking up the pieces of his stupidity. ALL BANKS NEED TO BE REGULATED..that is obvious to all except idiots like Trump.
Tell them not to take out handouts food stamps medical section 8 etc. it will never happen people rely too much on the government to step in when they can’t make it
Janet Yellen has done tremendous damage to the United States, she is a joke of a Treasury Secretary and she should be prosecuted and imprisoned and sued into oblivion.
Funny you think that with Yellen but saw nothing when Trump laid bare all community banks in 2018 making them all vulnerable to this kind of disaster. Trump deregulation once more, is responsible for this weekend disaster. Just like he was responsible for the toxic train wreck. Deregulation is folly if you do it mindlessly as Trump did. REGULATIONS ARE APPLIED FOR GOOD REASONS...look at those reasons BEFORE deregulating. Trump looked at nothing but deregulated reflexively according to how effectively he was lobbied.
Especially when bank bailouts were made illegal by the dodd frank act of 2010. Which is why they are redefining this as "Not-A-Bailout" when it's a bail out.
You were on point senator. No doubt. Yellen’s response imprecise and almost reflecting her incompetence in this matter and overall. Oklahomans should be proud.
The good thing about all the stuff going on is they are so confident they are playing reckless raising a great chance of people getting enough. All over the world people are getting fed up with the elites and govt.
No, not nationalizing but rather returning them to oversight so that they don't take investment risks and keep enough cash on hand for emergencies. Trump allowed the Community Banks to be exempt from this oversight and this is what happened as a result. Another fine mess Trump left for us to fix.
@@henley7012 You might want to take a broader view. This is part of a global agenda to centralize power and take away the last shreds of independence we possess. Anyone who is forced to use CBDCs to buy and sell will have no independence whatsoever. Unfortunately, that is going to be virtually everyone.
Senator James Lankford is my favorite person in Congress. In reality, he is the most STATEMAN-LIKE person in politics, today. He is fiscally responsible like my previous favorite politician, Doctor Tom Colburn, R. Oklahoma. I believe he is the smartest and wisest member of Congress. (At least one of a small group of such people.) He approaches the issues intelligently. When he first went to Congress, he held telephone town hall meetings that I could listen to and participate in, if I wanted to. That is called transparency. He was very good at discussing whatever issue his contingency brought up. James Lankford is the best! Keep an eye on Senator James Lankford from Oklahoma. I hope he becomes President! Yellen isn't smart enough to match wits with Senator Lankford.
Yellen, once again talking rubbish and forcing a perspective that that’s what ‘every depositer’ wanted to do. Just complete rubbish. This woman is deceitful.
Trump was incompetent and therefore allowed the Community banks to be exempt from oversight. Yellen is now tasked with cleaning up Trump's incompetence.
Surprised that she did not mention it to be the result of climate change and that the most important thing for the banks and the people is to adopt transgender madness and all LGBTQ pus insanity.
I guess every depositor wanted to lose their money? She told them none of them will lose their savings. I think Trump should pay for the loses, since it was his "thinking" deregulate everything is the cause of this mess. Yellen's quick response saved the bank runs from spreading to other banks.
2 fundamental issues there. You quoted, “I guess” - you have guessed. Every depositor wouldn’t of lost their money. Because certain people are covered and certain people aren’t. That’s a $250k threshold. Don’t pick and choose. Further more, if there was bank runs, you wouldn’t be preventing naff all, and that because certain amount of people in a bank run will access there money. What your essentially saying is it’s ok to prevent people from accessing money from their accounts.
If you take a look at sec, and their track record, that is exactly why their should be some sort of de regulation. There going on nearly 40 individuals who have had criminal cases against them. I could go on for days. Trump clearly stated from the outset he would sort that rubbish out and look what happens. Look at the individuals who were caught transferring money during the Russian scandal.
Too bad he let Trump remove those Community Banks from oversight. That's when he could have been effective. Being concerned after the fact isn't much help.
That would be the guy who was responsible for the bankruptcies, Trump, who deregulated the Community banks in 2018 so Yellen can now begin to clean up yet another Trump made mess.
It's not incompetence. The central banking cartel knows exactly what it is doing. Herding people's banking deposits into the few banks deemed "too big to fail" is a necessary step in reaching their ultimate goal. Janet Yellen works for the central banking cartel.
@@betsyj59 The solution is State owned banks. NOTHING is stopping each state from opening their own banks. I think there is only one state that owns their own bank, North Dakota, I think. We do not have to settle for anything. We can take charge of our destiny IF we can learn the truth about our condition. The Fox News network has proven to be a lying network but I'll wager that most people will continue to feed off the misinformation.
Because they have clients who are very large woke donars to Brandon and the democratic party ..garranteed he will receive his 10% big guy fee off of this somehow someway
Not sure why they did this but I remember going with my grandmother to the bank a couple of times a month...she would bring cash from home for the bank to write money orders so my grandparents would use the money orders to mail off to pay their bills. Looks like we'll all need to bank the hard way by keeping cash out of the banks, not use debit or credit cards, and pay for things with cash as much as possible so the Federal Reserve either has to quit their game or they have to show their true self and who they're really for.
I'm surprised she actually said the quiet part out loud. Look for all the small community banks to go down shortly. She just told you the only ones getting this treatment are the big banks. That is crazy!!!
That might have even been the aim of Lankford's questioning. After Yellen's comments are reported widely, many, many more people will be transferring their deposits from small local banks to the few "too big to fail" banks, guaranteeing the failure of the rest of the small banks that weren't consolidated out of existence in 2008/09.
That is where the millionaires and billionaires bank. They don’t bank in small community banks. Also, these political appointees know they won’t get their share of the mail or without stepping in.
They will only ensure money if the banks donate to democrat party members. Remember these same banks will also give your account info to the fed gov without telling you and track your purchases without a warrant
They’re consolidating banks in preparation for the CBDC. Executive Order 14067 for Digital Assets was signed on March 9th and will begin July 1st. That’s why they’re accelerating this. Not to mention their reckless spending, Ukraine money laundering and general cronyism.
Yep. I wish more people were aware of what is going on. Western leaders are just about to divest everyone of their last vestiges of independence and liberty by eradicating the old fiat currency system and replacing it with digitally programmable CBDCs.
Thanks for pointing out the truth, SVB is a bailout of tech corporations in Silicon Valley and the super wealthy there same with the NYC bank. If this happened to my regional bank none of us would get more than the $250k. Honestly I doubt they would do this with even a huge regular bank like B of A because most of their clientele are average Americans and small business, this was about WHO the depositors were in SVB and Signature.
She certainly did take the opportunity given to her to encourage more people to transfer their deposits from small local banks (guaranteeing their failure if enough people do this) into the too big to fail" banks. That is what the central bankers want to happen.
Her answer IS FREIGHTENING! What she said is that she and her boss, Obiden, will determine what is critical risk in total disregard for existing regulations.
