XPost: alt.fan.rush-limbaugh, alt.politics.usa.republican, sac.politics   
   XPost: talk.politics.guns   
   From: liesuponlies@nytimes.com   
      
   pyotr filipivich  wrote in   
   news:slv2t1$kuo$72@news.dns-netz.com:   
      
   > Duque Mantee wrote   
   >   
   >> Biden lies about how great the economy is and the media lies to back   
   >> him up.   
      
   Bank deposits dropped by $76.2 billion for in mid-April, according to   
   seasonally adjusted data released by the Federal Reserve. Although large   
   and foreign financial institutions saw a plunge in deposits, small   
   domestic banks also experienced a shrinkage in deposits, the Fed reported.   
   Deposits at small U.S. banks fell by 4.6 billion. Meanwhile, deposits at   
   foreign institutions fell by $26.9 billion.   
      
   These declines continue a downward trend for bank deposits. In fact, U.S.   
   bank deposits fell year-over-year in 2022 for the first time since 1948.   
   These numbers also followed recent bank collapses that raised uncertainty   
   across the banking sector and forced the federal government to step in.   
      
   Following the closures and federal takeover of Silicon Valley Bank (SVB)   
   and Signature Bank, Americans pulled nearly $100 billion out of banks.   
   Although high interest rates have raised challenges for several banks and   
   tightened credit access for consumers, some analysts said the collapse of   
   banks such as SVB had much to do with internal operations.   
      
   "SVB’s customer base was extremely poorly diversified, resting largely on   
   health and tech startups in the Silicon Valley area, an industry that   
   collectively lost $7.4 trillion in one year," the American Action Forum, a   
   think tank, said in an analysis. "SVB customers began to pull their   
   deposits from SVB in order to meet their liquidity needs, and SVB needed a   
   fast fix to cover this shortfall. Selling its long-term Treasury bonds   
   before they matured, at such a terrible market price, was the warning sign   
   to SVB’s venture capitalists that balance sheet liquidity was dire,   
   sparking a bank run as depositors sought to withdraw their assets."   
      
      
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)