How the FDIC Was Created to Deal With Banking Crises
Video Credit: Wibbitz Top Stories - Duration: 01:31s - Published
How the FDIC Was Created to Deal With Banking Crises
How the FDIC , Was Created to Deal With , Banking Crises.
NPR reports that the collapse of Silicon Valley Bank
has brought the FDIC into the spotlight 90 years
after its creation to avoid a banking catastrophe.
The agency's goal is to minimize panic
and turbulence following the second-largest
bank failure in the history of the U.S. .
The FDIC is working to convince U.S. citizens and
businesses that the banking system is safe while
avoiding bank runs that threaten to deepen the crisis.
The FDIC was formed in 1933 after
approximately 4,000 banks had closed
in the first few months of the year.
The FDIC was formed in 1933 after
approximately 4,000 banks had closed
in the first few months of the year.
I can assure you, my friends,
that it is safer to keep your money
in a reopened bank than it is
to keep it under the mattress, President Franklin D.
Roosevelt,
March 12, 1933 Fireside Chat, via NPR.
I can assure you, my friends,
that it is safer to keep your money
in a reopened bank than it is
to keep it under the mattress, President Franklin D.
Roosevelt,
March 12, 1933 Fireside Chat, via NPR.
The FDIC is an independent government agency that
is funded by banks and savings associations who pay
insurance premiums to cover trillions of dollars in deposits.
So we charge the bank 12 cents for every
$100 you put in the bank as insured money.
That allows us to build up our insurance
fund to pay costs when we have problems
like bank closings, where we have to
then pay people their money back, John Bovenzi, Former FDIC chief operating officer, via NPR.
So we charge the bank 12 cents for every
$100 you put in the bank as insured money.
That allows us to build up our insurance
fund to pay costs when we have problems
like bank closings, where we have to
then pay people their money back, John Bovenzi, Former FDIC chief operating officer, via NPR.
NPR reports that deposit insurance, which is covered
by insurance premiums, is one of the main tools the FDIC
is relying upon to guarantee that accounts are safe.
.
However, deposit insurance does not
apply to stocks, bonds, mutual funds
and other investment instruments.
NPR reports that critics of the FDIC
have cited the dangers of the agency
encouraging risky behaviors.
Biden Is Giving $6 Billion , to Micron Technology , for Semiconductor Production.
On April 25, President Biden will travel to Syracuse, NY, to announce over $6 billion in federal grants that his administration is awarding to Micron Technology, NPR reports. .
Senate Majority Leader Chuck Schumer, who was heavily involved in enacting the CHIPS and Science Act, issued a statement about the investment. .
This is the federal government taking back the reins, putting money where its mouth is when we say we want the future of tech to be stamped: 'Made in America.', Senate Majority Leader Chuck Schumer, via statement.
Micron will invest $100 billion of the funds to construct a manufacturing facility in Syracuse.
Schumer referred to the plan as "quite a
great return" on the government's investment.
A factory will also be built in
Boise, Idaho, NPR reports. .
That facility is expected to be ready for production by 2026, while two New York factories will likely be ready by 2028 and 2029.
The White House estimates that
the projects could create 20,000 jobs
in construction and manufacturing.
in addition to "tens of thousands of
indirect jobs in the regions," NPR reports. .
The CHIPS and Science Act has also provided funding for Intel, TSMC and Samsung
Credit: Wibbitz Top Stories Duration: 01:30Published
Are You in a Creative Rut? , Here's How to Stay Inspired.
Have you had a hard time accessing the creative part of your brain lately?.
Maybe you're hoping for a magical breakthrough
like something you'd see in a movie.
Experts say it may not be so easy, but it's still possible to pull yourself out of a creative rut if you keep these things in mind:.
Creativity Is for Everyone.
Most folks are creative, and experts
say you don't have to be a genius
to harness the power.
I think we are already
creative beings and
how you use that
[creativity] is
up to you, Sarah Urist Green, producer of
'The Art Assignment,' via NPR.
You don't need to have particular skills; you don't need to have
particular materials. , Sarah Urist Green, producer of
'The Art Assignment,' via NPR.
Take a Break.
Experts say allowing your brain to de-stimulate is great practice
if your schedule allows. .
What our brains actually need is periods of destimulation, Rahaf Harfoush, host of 'The Thought Experiment,' via NPR.
which means no screens, no emails, no audiobooks. , Rahaf Harfoush, host of 'The Thought Experiment,' via NPR.
Don't Force
Yourself.
Experts say don't use stress as a tool
to get things done.
Being overly reliant on pressure and stress may deepen your creative rut.
It could also increase chances of
anxiety attacks and depression
Credit: Wibbitz Top Stories Duration: 01:30Published
How to Be , More Timely.
Have you been rolling out
of bed with minutes to spare?.
Maybe you've been wondering to yourself: "where does all the time go?".
Strive to be on time with these helpful tips:.
Timeliness is
a Sign of Respect.
Being timely can project respect for ourselves and others.
I think it's very important to be on time. , Rashelle Isip, professional organizer-productivity consultant, via NPR.
You can always let time pass, but you can't
get it back once it's already gone. , Rashelle Isip, professional organizer-productivity consultant, via NPR.
Plan Ahead.
For the chronically late, experts
say it helps to have a plan.
There's a lot of steps
that I think people just don't consider. , Rashelle Isip, professional organizer-productivity consultant, via NPR.
There's a lot of steps
that I think people just don't consider. , Rashelle Isip, professional organizer-productivity consultant, via NPR.
Help yourself by picking out tomorrow's outfit today. Pack your bag, and confirm appropriate directions before you depart.
Be Honest With Yourself and Others.
Everybody is late for something now and then. True character is how you respond to it.
If you know you're going to be late to something, the very best thing you can do is communicate right away, Rashelle Isip, professional organizer-productivity consultant, via NPR.
If you know you're going to be late to something, the very best thing you can do is communicate right away, Rashelle Isip, professional organizer-productivity consultant, via NPR.
It's not thinking about it and then calling or texting
30 minutes later.
It means right at that moment. , Rashelle Isip, professional organizer-productivity consultant, via NPR.
It's not thinking about it and then calling or texting
30 minutes later.
It means right at that moment. , Rashelle Isip, professional organizer-productivity consultant, via NPR
Credit: Wibbitz Top Stories Duration: 01:30Published
FTC to Decide , Whether Noncompete Agreements , Should Be Banned.
After receiving over 26,000 public comments about the issue, the Federal Trade Commission is set to deliver its verdict on April 30, NPR reports. .
The commission said that if approved, the
final rule "would generally prevent most
employers from using noncompete clauses.".
The commission said that if approved, the
final rule "would generally prevent most
employers from using noncompete clauses.".
Approximately one in five Americans, spanning minimum wage workers to CEOs, are subject to noncompete agreements, the FTC estimates. .
The Biden administration says that these types of agreements hurt workers by decreasing wages.
The White House also argues that these
agreements harm the U.S. economy because entrepreneurship isn't allowed to freely flourish. .
FTC Chair Lina M. Khan issued a statement when
the proposed ban was initially introduced.
The freedom to change jobs is
core to economic liberty and to
a competitive, thriving economy, FTC Chair Lina M. Khan, via statement.
Noncompetes block workers from
freely switching jobs, depriving
them of higher wages and better
working conditions, and depriving
businesses of a talent pool that
they need to build and expand, FTC Chair Lina M. Khan, via statement.
Businesses argue that noncompete agreements are essential for safeguarding investments and proprietary information.
Those businesses also question whether
the agency has the power "to regulate
such agreements," NPR reports. .
If the FTC votes to issue a final rule, enforcement wouldn't occur for 180 days,
and legal challenges would likely ensue.
Credit: Wibbitz Top Stories Duration: 01:31Published
Supreme Court Considers Letting Cities , Punish Homeless for Sleeping Outside.
On April 22, the Supreme Court will hear a case out of Grants Pass, Oregon, which has a population of less than 40,000, NPR reports. .
'Grants Pass v. Johnson' seeks to challenge two
9th U.S. Circuit Court of Appeals rulings which found fining or jailing the unhoused to be cruel and unusual punishment when they have no other alternative.
'Grants Pass v. Johnson' seeks to challenge two
9th U.S. Circuit Court of Appeals rulings which found fining or jailing the unhoused to be cruel and unusual punishment when they have no other alternative.
But Grants Pass argues that public health and safety are dependent on camping restrictions that are commonly found across America. .
The city contends that homeless encampments pose a danger to those living
in them, as well as to families and children.
This is because the encampments
are often filled with people who need
mental health and drug addiction resources.
Advocates for the unhoused say that criminalizing sleeping outside is counterproductive. .
Punishing someone for doing
something they have no control
over, no ability to not do, is not
going to end that status. In fact,
not only does criminalization not
work, it makes matters worse. , Ed Johnson of the Oregon Law Center, via NPR.
A criminal record and debt from fines would make it even more difficult for a homeless person to find housing, says Ed Johnson of the Oregon Law Center.
But many cities don't have
enough permanent housing to offer.
Grants pass could use about 4,000 more housing units, while the national
"deficit is in the millions," NPR reports.
The shortage has caused rents to skyrocket, which is a main driver of homelessness
Credit: Wibbitz Top Stories Duration: 01:31Published
This Day in History:, FDR Signs the Beer
and Wine Revenue Act.
March 22, 1933.
After 14 years of Prohibition, the Beer and Wine Revenue
Act finally allowed the sale and government taxation of
alcoholic beverages with no more than 3.2% alcohol.
The act was part of FDR's New Deal,
a series of economic measures intended
to pull America out of The Great Depression.
It was one of his first actions as president.
Its passage signaled the repeal of the
18th Amendment and the Volstead Act,
which prohibited the sale of alcohol in the U.S.
While a victory for the powerful temperance
movement, Prohibition increased illegal trafficking
of alcohol. It had little effect on its consumption.
Later that year in December,
the 21st Amendment was passed,
bringing the era of Prohibition to an end
Credit: Wibbitz Top Stories Duration: 00:48Published
First Citizens Bank to , Buy Silicon Valley Bank.
NPR reports that the FDIC made the announcement on March 26.
First Citizens will buy all of Silicon Valley Bank's (SVB) deposits and loans.
First..
Credit: Wibbitz Top Stories Duration: 01:31Published
DOJ and SEC Launch Investigations , Into SVB Collapse.
Last week, the California Department of Financial Protection and Innovation shut down Silicon Valley Bank (SVB) and made the FDIC its..
Credit: Wibbitz Top Stories Duration: 01:31Published
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