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The vast majority of Americans believe U.S. companies should hire executives based solely on merit, character and quality, according to a CRC Research poll shared exclusively with the Daily Caller News Foundation. Among respondents, 87% supported a merit-based approach, compared to 8% who supported a quota system for race and gender and 5% who were unsure or refused to answer, according to the CRC Research poll conducted for the 85 Fund. The pattern held true across political affiliations, with most Democrats, Republicans and independents favoring a merit-based hiring approach for executives. At 93%, Republicans were only slightly more likely to...

Nearly 200 more banks may be vulnerable to the same type of risk that took down Silicon Valley Bank: The value of the assets they hold. There are 186 banks across the country that could fail if half of their depositors quickly withdraw their funds, a new study published on the Social Science Research Network found. Even insured depositors — those with $250,000 or less in the bank — could have problems getting their cash if these institutions face the sort of run that Silicon Valley saw a week ago. The concern is that these banks hold a significant amount...

Sharon Stone revealed that she lost “half” of her fortune, presumably in the Silicon Valley Bank collapse. The “Basic Instinct” star broke down in tears as she accepted the Courage Award during the Women’s Cancer Research Fund’s (WCRF) fundraiser Thursday and said it took “courage” for her to donate given the bank’s failure. “I know that thing that you have to get on and figure out how to text the money is difficult. I’m a technical idiot, but I can write a f–king check,” she said from the stage.

Americans can’t afford food, but leftist and Chinese companies get bailed out. Silicon Valley Bank spent billions on green energy, millions on Black Lives Matter and other leftist causes, until it finally ran out of ‘other people’s money’. That’s when the Biden administration decided to bail out its depositors. At a dinner hosted by Peter Orszag, Obama’s former budget director, Wally Adeyemo, Obama’s Nigerian assistant treasury secretary and Biden’s deputy treasury secretary, chatted with Blair Effron, an influential Biden donor, serving on Biden’s Intelligence Advisory Board, who had been hired as an advisor by SVB to deal with its financial...

SVB Financial Group, the company whose former subsidiary Silicon Valley Bank was taken over by the Federal Deposit Insurance Corporation last week, filed a voluntary petition for a Chapter 11 bankruptcy protection in the Southern District of New York to preserve value for stakeholders.SVB Financial said it has approximately $2.2 billion of liquidity and cash and its interests in SVB Capital and SVB Securities. It also said it has "other valuable investment securities accounts and other assets for which it is also exploring strategic alternatives." The bankrupt entity listed assets and liabilities of up to $10 billion each.SVB Financial also...

the rush to rescue depositors of Silicon Valley Bank .., a bank directly associated with Silicon Valley, which he terms as the "Democratic stronghold of the world," is as big a "crony payoff as you possibly can have.".. the Silicon Valley Bank is enjoying a charmed life because it's in Silicon Valley," ... "It's the Democratic stronghold of the world. And 99% of their people are probably Democrats and depositors that raised hell they're all democratic donors, so this is as crony a payoff as you possibly can have." ... Morris's statement comes after Treasury Secretary Janet Yellen proclaimed .....

It's no surprise that a bank focusing on woke politics failed, former Acting Director of National Intelligence Ric Grenell ... "whenever you have an administration that is going to completely concentrate on diversity, equity, [and] inclusion-type of programs, you're going to have a huge problem." ... this small bank had 1,500 climate-related loans. ... The New York Times reported that Silicon Valley Bank issued billions of dollars to more than "1,550 technology firms" working in areas such as solar, "hydrogen and battery storage projects." According to the CEO of Arcadia, the largest community solar manager in the country, Kiran Bhatraju,...

Tucker Carlson went there tonight — Tucker told his audience if people don’t start making lots of noise we’re going to see a government controlled digital currency. Tucker Carlson opened his show on Monday by discussing the banking crisis in the country today. On Monday morning trading was halted on 20 banks as the markets opened. The New York Stock Exchange halted trading at Charles Schwab. Tonight Tucker Carlson went there – pointing out that the federal government gained power after bailing out the Silicon Valley Bank. Tucker also warned that this banking crisis could lead to a national digital...

Individuals and political action committees associated with defunct financial institution Silicon Valley Bank have donated extensively to leading politicians. Silicon Valley Bank, one of the largest financial institutions in the United States, collapsed last week as depositors rushed to withdraw their funds. The firm had sold several long-term government and corporate bonds at a loss to supply the deposits before the Federal Deposit Insurance Corporation assumed control of the company. Federal election data compiled by Open Secrets indicates that Sen. Mark Warner (D-VA) received $8,300 from Silicon Valley Bank affiliates, including $5,800 from individuals and $2,500 from the company’s political...

Before its collapse Friday, wokesterism surrounded Silicon Valley Bank like a miasma.The wokesterly attentiveness didn't per se destroy that mid-sized bank, given that most banks play these games and the big ones are very loud about it.As I noted earlier, Johns Hopkins University professor of economics, Steve Hanke, put his finger on the problem more precisely in an email:[T]he real SVB issue was terrible banking and risk management that resulted in a massive duration mismatch between SVB's liabilities (read: deposits) and its assets (read: long-dated bonds). The mismatch was stupidly not hedged. SVB was a poorly run bank, a disaster...

Below is my column in the New York Post on the suggested censorship of bank critics by Sen. Mark Kelly (D., Ariz.). It was only the latest example of how censorship has become a reflexive response of many Democrats to opposing views. It is now increasingly common for certain views to be declared as simply too dangerous to be tolerated or allowed on social media, including (it seems) questioning the solvency of banks. Here is the column: Concerned about your money after recent bank failures? You might want to keep those thoughts to yourself. While some rushed to get their...

Friday was a dark day for the U.S. economy. Last Friday, Wells Fargo customers started complaining about missing money from their accounts. Wells Fargo has publicly acknowledged that customers are missing money from their accounts but did not provide customers with a timeline for fixing the issue. Silicon Valley Bank also collapsed on Friday. When Wells Fargo customers logged into their bank accounts Friday, they were greeted with a message that read. “If you see incorrect balances or missing transactions, this may be due to a technical issue and we apologize. Your accounts continue to be secure and we’re working...

Bankers in Israel were able to successfully transfer $1 billion in funds from Silicon Valley Bank (SVB) right before it collapsed on Friday, according to reports. The Times of Israel is reporting that the country’s two largest banks, Bank Leumi and Bank Hapoalim, were able to move the money before it was seized by the feds. The funds were transferred to bank accounts in Israel.

More than $100bn has been wiped off US banks’ value as the collapse of Silicon Valley Bank continues to send shockwaves throughout Wall St. Trading was temporarily halted in dozens of regional banks this morning as shares fell by up to 75 percent, despite Joe Biden’s assurances that ‘US banking is safe.’ Major US banks were also affected by the crash as fear spread throughout the market, with Wells Fargo plummeting 7.5 percent, Bank of America falling 7.4 percent, Citigroup plunging 5.8 percent and JP Morgan down 2.7 percent. US President Joe Biden insisted that the system was safe after...

In a brief statement Monday addressing the stunning collapse of Silicon Valley Bank and Signature Bank, Joe Biden sought to assure worried Americans that the U.S. banking system is in good hands. “Thanks to the quick action of my administration over the last few days, Americans can have confidence that the banking system is safe,” Biden said. “Your deposits will be there when you need them.” As he was speaking, the stocks of four other banks—First Republic Bank, PacWest, Regions and Western Alliance Bancorp—were halted for volatility. Biden faulted “the previous administration” for rolling back regulations that he claimed would...

The following statement was released by Secretary of the Treasury Janet L. Yellen, Federal Reserve Board Chair Jerome H. Powell, and FDIC Chairman Martin J. Gruenberg: Today we are taking decisive actions to protect the U.S. economy by strengthening public confidence in our banking system. This step will ensure that the U.S. banking system continues to perform its vital roles of protecting deposits and providing access to credit to households and businesses in a manner that promotes strong and sustainable economic growth. After receiving a recommendation from the boards of the FDIC and the Federal Reserve, and consulting with the...

Fallout from the Silicon Valley Bank collapse has directed attention to a $620 billion ticking time bomb in the banking system that has the potential to spell doom for the financial system. SVB's meltdown was partly caused by a chasm between its assets and what they were worth in the market. Eventually, SVB sold some of those assets, spooking investors and triggering a run on the bank. But SVB isn't alone, as banks across the United States were sitting on $620 billion in unrealized potential losses at the end of last year, per the Federal Deposit Insurance Corporation. That hole...

WASHINGTON, D.C. — In an attempt to avert a major financial disaster in the wake of Silicon Valley Bank's collapse, the Biden Administration held a special meeting with Chinese President Xi to ask him for a quick loan to help bail out the failing bank. "Hey, Xi old buddy! I haven't seen you since we were pallin' around in the foothills of the Himalayas!" said Biden to the CCP leader. "We need a couple bucks. Just a small loan to bail out some bankers and prevent the collapse of the economy again. Can you do us a solid? We promise...

The Biden Economy — .. falling apart, everything, everywhere all at once. NYSE halted trading of Charles Schwab, whose shares fell by more than 20%, and even a few Etsy sellers have been impacted by the fallout of Silicon Valley Bank’s (SVB) collapse. Schwab’s fall was the firm’s “most ever on an intraday-basis,” ... Signature Bank, “a key financial institution for the cryptocurrency industry,” according to the New York Post, was shut down on Sunday over “similar systemic risk” to SVB. SVB and Signature are the second- and third-largest bank failures in U.S. history, respectively, with combined assets in excess...

Washington, DC -- The following statement was released by Secretary of the Treasury Janet L. Yellen, Federal Reserve Board Chair Jerome H. Powell, and FDIC Chairman Martin J. Gruenberg: Today we are taking decisive actions to protect the U.S. economy by strengthening public confidence in our banking system. This step will ensure that the U.S. banking system continues to perform its vital roles of protecting deposits and providing access to credit to households and businesses in a manner that promotes strong and sustainable economic growth. After receiving a recommendation from the boards of the FDIC and the Federal Reserve, and...