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US Lawmaker Urges Government to Guarantee All Deposits to Avoid Runs on Smaller Banks

[Mar 19, 2023 7:30 PM] A U.S. congressman has urged the federal government to temporarily insure every bank deposit in the country. Following the collapses of several major banks, he stressed that if the government does not do this, there will be a run on smaller banks…

Moody’s Downgrades US Banking Sector to Negative After Collapse of Three Major Banks

[Mar 14, 2023 3:30 PM] After the failure of three major U.S. banks last week, with two of them being the second and third largest banking failures in the country, Moody’s Investors Service has downgraded the rating of the U.S. banking system from…

Silvergate and SVB bite the dust: Law Decoded, March 6–13.

[Mar 13, 2023 2:00 PM] Elizabeth Warren and Sherrod Brown didn’t miss a chance to attack the crypto industry after bank failures.

Report: Silicon Valley Bank Under FDIC Auction as Calls for Bailout Grow

[Mar 12, 2023 12:30 PM] The U.S. Federal Deposit Insurance Corporation (FDIC) began an auction process for Silicon Valley Bank (SVB) late Saturday night, according to reports. Final bids are due by Sunday afternoon. Unnamed sources indicate that the FDIC is seeking to…

U.S. Treasury Janet Yellen working on SVB collapse, not at bailout: Report

[Mar 12, 2023 8:29 AM] Janet Yellen said in an interview on March 12 that U.S. regulators are working to address Silicon Valley Bank collapse, but not considering a major bailout.

Janet Yellen Says ‘Critical’ to Establish Strong Crypto Regulation — ‘We Haven’t Suggested Outright Banning’

[Feb 26, 2023 9:00 PM] U.S. Treasury Secretary Janet Yellen says “it is critical to put in place a strong regulatory framework” for crypto on the sidelines of the G20 meeting for finance ministers and central bank governors. “We haven’t suggested…

Bank of America Is Preparing for Possible US Debt Default, Says CEO Brian Moynihan

[Feb 7, 2023 7:30 PM] Bank of America is preparing for a possible U.S. debt default, says CEO Brian Moynihan. He is not a fan of eliminating the debt ceiling altogether as some lawmakers have proposed. Meanwhile, Treasury Secretary Janet Yellen says “every…

Casting Stones From a Glass House: Yellen’s Comments on Zambia’s Debt Restructuring Draw Criticism From Chinese Embassy

[Jan 24, 2023 4:30 PM] The Chinese embassy in Zambia denounced the United States over its debt limit and the “extraordinary measures” Treasury secretary Janet Yellen has implemented to stave off a U.S. debt default. Yellen said on Monday that it was very…

Treasury Secretary Yellen Urges Swift Action to Increase Spending Limit, Avert Default on US Obligations

[Jan 14, 2023 1:30 PM] Janet Yellen, the U.S. secretary of the Treasury, sent a letter to Congress on Friday urging lawmakers to increase the spending limit. Yellen stressed that the country would reach its statutory debt limit on Jan. 19, 2023. She warned that…

US Treasury’s Yellen Says Crypto Doesn’t Have Adequate Regulation — Calls FTX Collapse ‘a Lehman Moment’

[Nov 30, 2022 8:30 PM] U.S. Treasury Secretary Janet Yellen says that the collapse of crypto exchange FTX shows that the crypto industry “really needs to have adequate regulation.” She added: “It’s a Lehman moment within crypto, and crypto is big…

New York Times Gets Mocked for Allowing Sam Bankman-Fried to Speak at Dealbook Summit

[Nov 24, 2022 11:30 AM] The former FTX CEO Sam Bankman-Fried (SBF) says he plans to speak with Andrew Ross Sorkin at the annual New York Times Dealbook Summit on Nov. 30, according to a tweet he published on Nov. 23. SBF’s tweet received quite a bit of response and its…

Yellen Says FTX Collapse Shows Weaknesses of Entire Crypto Sector — Fed’s Brainard Pushes for Strong Regulation

[Nov 15, 2022 5:30 PM] U.S. Treasury Secretary Janet Yellen and Federal Reserve Vice Chair Lael Brainard have stressed the need for strong crypto regulation. Yellen said the FTX collapse shows “the weaknesses” of the entire crypto sector while Brainard…

US Treasury Secretary and Indian Finance Minister Discuss Crypto Regulation

[Nov 12, 2022 11:30 PM] U.S. Treasury Secretary Janet Yellen and Indian Finance Minister Nirmala Sitharaman discussed crypto regulation during the ninth India-U.S. Economic and Financial Partnership meeting. They stressed the importance of international cooperation and…