The United States administration will not bail out the bankrupt Silicon Valley Bank (SVB), but it is trying to help the depositors of one of the largest US banks. In this respect stated Treasury Secretary Janet Yellen in an interview with CBS.
Yellen drew attention to the gap between the current situation and the 2008 financial crisis, when authorities had to bail out many credit structures to protect this space.
“Let me make it clear that during the financial crisis, it was the investors and owners of the major systemic banks that were rescued. <…> and the reforms adopted (by the authorities) mean that we will not repeat it. “But we are concerned about contributors and focused on meeting their needs.”
Asked whether depositors, including small businesses, will be paid in full, Yellen declined to comment on the government’s plans.
Yellen on early March 12 complainedwho lost their days off because they had to work at the closed SVB bank .
Bloomberg this week reportedGreg Becker, CEO of bankrupt Silicon Valley Bank, said he sold his shares for a total of $3.6 million in the weeks before the credit institution actually depreciated.