A third U.S. bank has failed in the space of a week, and this time its the same one that closed President Trump’s accounts two years ago, reasoning that it would not do business with Trump after January 6th.
(Article by Steve Watson republished from InfoWars.com)
Signature bank in New York was shut down by US regulators on Sunday, according to a joint statement from the Federal Reserve, US Treasury and the Federal Deposit Insurance Corporation (FDIC), noting that the lender “was closed by its state chartering authority.”
It comes after SVB bank and California-based crypto-focused Silvergate also failed.
The statement further notes that “[SVB] depositors will have access to all of their money starting Monday, March 13… We are announcing a similar systemic risk exception for Signature Bank… all depositors of this institution will be made whole. As with the resolution of Silicon Valley Bank, no losses will be borne by the taxpayer.”
Analysts were quick to point out that Signature severed lending to Trump and called for the then President to resign in January 2021.
Signature Bank famously closed President Trump's bank accounts to signal its virtue. Go woke, go broke.https://t.co/PzGfq2J2sg
— David Shafer (@DavidShafer) March 13, 2023
Signature Bank did Trump a hyge favor.
2021 Vs 2023 pic.twitter.com/x3RfMG6aNY
— I Meme Therefore I Am ?? (@ImMeme0) March 13, 2023
Signature Bank just collapsed. Yes, the same bank that closed President Trump’s personal bank accounts after J6. pic.twitter.com/3WGHfRbIqo
— G.Strand (@GStrand45) March 13, 2023
At the time a statement from Signature read “We have never before commented on any political matter and hope to never do so again. However, as Americans we are deeply, deeply saddened by the rioting and insurrection which took place in the most sacred of American institutions, our United States Capitol.”
It continued, “We witnessed the President of the United States encouraging the rioters and refraining from calling in the National Guard to protect the Congress in its performance of duty.”
“At this point in time, to ensure the peaceful transition of power, we believe the appropriate action would be the resignation of the President of the United States, which is in the best interests of our nation and the American people,” the bank added.
Trump held two accounts with the bank, according to reports, with over 5 million dollars invested in them.
The latest collapse comes after revelations of how SVB was also heavily concentrating on woke policies.
Remember that time Signature Bank cut ties with President Trump and called for his resignation? Or that time SVB and Signature started going woke?
Well now the sayings are true…
Go Woke Go Broke…
Everything Woke Turns to Shit… pic.twitter.com/z3WcJ1lYLb
— Bryan McNally (@BryanDMcNally) March 13, 2023
Trump previously warned that “if you put the wrong person in office,” there would be a huge economic crash on the scale of 1929:
Bank Panic! Is this Donald Trump prediction about to come true?
SVB, First Republic Bank, Signature Bank, JPMorgan, Wells Fargo, Bank of America & Citigroup all losing HUGE. It was the worst day for bank stocks since 2020 which fell over 4% Per FBN. pic.twitter.com/CogDtMf9GP
— SweetPeaBelle (@SweetPeaBell326) March 10, 2023
Meanwhile, Treasury Secretary Janet Yellen said Sunday there would be no federal government bailouts and claimed that the economy is in “good shape”:
Asked whether the government might bail out banks as it did during the 2008 crisis, @SecYellen says, “We’re not going to do that again.” But she adds, “We are concerned about depositors and are focused on trying to meet their needs.” pic.twitter.com/sg5WBFWfPj
— Face The Nation (@FaceTheNation) March 12, 2023
“Would you be open to a foreign bank coming in…to help stabilize the situation with [SVB]?” asks @margbrennan.@SecYellen says this “really is a decision for the FDIC,” adding, “I'm sure they're considering a wide range of available options that would include acquisitions.” pic.twitter.com/wurN4USZ5H
— Face The Nation (@FaceTheNation) March 12, 2023
.@SecYellen on whether the SVB collapse could lead to other bank failures and spillover into the economy: “We want to make sure that the troubles that exist at one bank don't create contagion to others that are sound.” pic.twitter.com/FApuXm5j9a
— Face The Nation (@FaceTheNation) March 12, 2023
“America’s economy relies on a safe and sound banking system,” Treasury @SecYellen tells @margbrennan when asked about the collapse of Silicon Valley Bank, adding that she has been working with "banking regulators to design appropriate policies to address this situation." pic.twitter.com/tMdn8bJcLB
— Face The Nation (@FaceTheNation) March 12, 2023
8 hours apart pic.twitter.com/5mM6c7vxoT
— Tom Elliott (@tomselliott) March 13, 2023
Last week Yellen was concentrating on Ukraine:
This is a regulatory failure of historic proportions by both the Fed and Treasury.
Instead of preventing billions in losses, the Fed was worrying about board diversity and Yellen was flying to Ukraine.
Everyone should be sacked immediately. https://t.co/XDd5LTI6hF
— zerohedge (@zerohedge) March 12, 2023
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