Goldman Sachs' Big Payout , From Silicon Valley Bank Collapse, Raises Questions.
Goldman Sachs' Big Payout , From Silicon Valley Bank Collapse, Raises Questions.
'The New York Times' reports that Silicon Valley Bank
(SVB) adviser Goldman Sachs is expected to make
over $100 million following the collapse of the bank.
'The New York Times' reports that Silicon Valley Bank
(SVB) adviser Goldman Sachs is expected to make
over $100 million following the collapse of the bank.
In the days leading up to SVB's
demise, Goldman Sachs reportedly
purchased $21.4 billion of the bank's debt.
.
'NYT' reports that SVB was warned
that it faced a possible downgrade
by Moody's in early March.
.
At the time, SVB called on
Goldman Sachs for advice on
shoring up the bank's books.
Ultimately, Goldman's two-part plan
for SVB to raise capital and sell off its
debt failed, and the bank collapsed.
According to the 'NYT,' questions have been
raised regarding Goldman Sachs' compensation
and how it managed its relationship with SVB.
According to the 'NYT,' questions have been
raised regarding Goldman Sachs' compensation
and how it managed its relationship with SVB.
The government's extraordinary measures to
safeguard the bank's depositors are expected
to come with increased regulatory scrutiny.
The government's extraordinary measures to
safeguard the bank's depositors are expected
to come with increased regulatory scrutiny.
Meanwhile, prior to opening its investigation
into the bank's collapse, the Justice Department
unveiled a new pilot program to hold
executives responsible for corporate wrongdoing.
Lawmakers have called for clawbacks of bonuses that
were paid to executives by the bank in addition to profits
made from selling off stock in SVB's final days.
Lawmakers have called for clawbacks of bonuses that
were paid to executives by the bank in addition to profits
made from selling off stock in SVB's final days.
'NYT' reports that SVB's failure to raise capital prior
to Goldman Sachs' purchase of its debt ended up spooking
the markets and ultimately led to the bank's collapse.
'NYT' reports that SVB's failure to raise capital prior
to Goldman Sachs' purchase of its debt ended up spooking
the markets and ultimately led to the bank's collapse
Fed Raises Rates , by a Quarter Point.
The Federal Reserve issued its
tenth rate hike since last March on May 3.
The decision to hike interest rates by
a quarter of a point was unanimous. .
The benchmark federal funds
rate is now at 5%-5.25%.
That's the highest it's been
in over 15 years, CNN reports.
The move follows the collapse of
Silicon Valley Bank, Silvergate and Signature Bank.
The move follows the collapse of
Silicon Valley Bank, Silvergate and Signature Bank.
Fed Chair Jerome Powell said the central bank will "approach the question" of a pause in
rate hikes "at the June meeting.".
The Federal Reserve also said that current strict lending standards may slow the economy, helping to ease inflation.
Tighter credit conditions for households and businesses are likely to weigh on economic activity, hiring and inflation, Federal Reserve, via statement.
The extent of those effects remains uncertain, Federal Reserve, via statement
Credit: Wibbitz Top Stories Duration: 01:30Published
JPMorgan Chase , See Profits Skyrocket , Despite Banking Crisis.
ABC News reports that JPMorgan Chase posted a 52%
leap in first-quarter profits following the failure of
Silicon Valley Bank and Signature Bank last month.
ABC News reports that JPMorgan Chase posted a 52%
leap in first-quarter profits following the failure of
Silicon Valley Bank and Signature Bank last month.
JPMorgan posted a profit of $12.62 billion,
compared to a profit of just $8.28 billion
at the same time last year.
Following the collapse of the smaller banks,
JPMorgan saw deposits noticeably grow as businesses
and customers flocked to the financial institution.
Higher interest rates also
allowed the banking titan to
charge customers more for loans.
ABC reports that the bank's net interest
income was $20.8 billion, a 49% increase
from the same time last year.
Both Citigroup and Wells Fargo
also showed solid results on April 14.
Both Citigroup and Wells Fargo
also showed solid results on April 14.
ABC reports that the news suggests that the nation's
biggest, most complex financial institutions may be
spared from potential trouble in the banking sector.
These were the most watched bank
earnings announcements in over
a decade, with market participants
scouring the results looking for signs
of cracks in the U.S. banking sector. , Octavio Marenzi, CEO of consulting firm Opimas LLC, via ABC.
These were the most watched bank
earnings announcements in over
a decade, with market participants
scouring the results looking for signs
of cracks in the U.S. banking sector. , Octavio Marenzi, CEO of consulting firm Opimas LLC, via ABC.
Those analysts looking for
signs of the banking crisis were
greatly relieved to not find any, Octavio Marenzi, CEO of consulting firm Opimas LLC, via ABC.
Also exceeding analysts' expectations,
on a per-share basis, the bank earned
$4.10 a share, up from last year's $2.63.
Credit: Wibbitz Top Stories Duration: 01:31Published
Carolyn Bryant Donham, , Woman Whose Accusations Doomed Emmett Till, , Dead at 88.
CNN reports that the white woman,
whose words led to the lynching of Till
in 1955, died on April 25.
14-year-old Till was visiting family in Mississippi
when he allegedly whistled at Donham.
Donham's husband, Roy Bryant, and J.W. Milam abducted Till from his bed several nights later.
They then beat him, shot him in the head
and threw his body in the river.
At the subsequent murder trial, Donham testified that Till had grabbed her and said he'd never been with "white women before.".
An all-white jury acquitted
Bryant and Milam of murder.
In 1956, they admitted to the murder in a 'Look' magazine interview, but no further chargers were ever brought against the two men.
In a 2008 interview with professor Timothy Tyson, Donham reportedly said, "That part's not true,"
when asked about her testimony.
The Department of Justice reopened the case in 2018, but it could never prove that Donham had lied, and the case was closed again in 2021.
In 2022, a Mississippi grand jury
decided against indicting Donham on kidnapping and manslaughter charges.
After hearing every aspect of the investigation and evidence collected regarding Donham’s involvement, the Grand Jury returned a ‘No Bill’ to the charges of
both Kidnapping and Manslaughter, District Attorney Dewayne Richardson, via statement.
The murder of Emmett Till remains an unforgettable tragedy in this country and the thoughts and prayers of this nation continue to be with the family of Emmett Till, District Attorney Dewayne Richardson, via statement
Credit: Wibbitz Top Stories Duration: 01:31Published
$6 Billion Student Loan Debt Settlement , Allowed by Supreme Court.
NBC News reports that on April 13, the
Supreme Court rejected a request made by three colleges to challenge the class-action settlement.
The schools that made the request are
Everglades College, Lincoln Educational Service Corp. and American National University. .
The secretary’s claimed authority amounts to nothing less than the power to cancel, en masse, every student loan in the country, Challenging schools, via court papers.
But the Justice Department determined
that the settlement "neither adjudicates
any rights or imposes any duties or
liabilities upon the relevant schools.".
The settlement, which is
unrelated to President Biden's efforts
to eliminate student loan debt, .
The settlement, which is
unrelated to President Biden's efforts
to eliminate student loan debt, .
stems from loans borrowers say were taken out after being misled by the schools.
The settlement could be worth over $6 billion, allowing thousands of loans to be canceled.
It was approved by U.S. District Judge
William Alsup in November.
The colleges were previously placed on a list by the federal government linked to "substantial misconduct.".
According to the Justice Department, approximately 3,800 of the loans were affiliated with the three colleges.
400 of them have been discharged so far
Credit: Wibbitz Top Stories Duration: 01:31Published
Leaked Pentagon Documents , Highlight US Intelligence on Allies and Foes.
Last week, alleged classified Pentagon documents about the war in Ukraine were reportedly leaked via social media.
Last week, alleged classified Pentagon documents about the war in Ukraine were reportedly leaked via social media.
On April 7, over 100 more documents
were shared on Twitter, detailing the
findings of U.S. spy agencies.
The information was reportedly
not only about Russia, but also about American allies Israel and South Korea.
The information was reportedly
not only about Russia, but also about American allies Israel and South Korea.
One of the claims in the leaked documents suggests that Israeli foreign intelligence encouraged participation in the anti-government protests across Israel in March.
Prime Minister Benjamin Netanyahu addressed those claims on April 9.
The Mossad and its serving senior personnel have not engaged in the issue of the demonstrations at all and are dedicated to the value of service to the state that has guided the Mossad since its founding, Benjamin Netanyahu, prime minister of Israel, via statement.
Another leaked document suggesting that the U.S. spied
on South Korea has prompted the ally nation to initiate "necessary consultations with the U.S. side.".
On April 8, France denied having
soldiers in Ukraine, as reportedly cited
by an additional leaked document.
There are no French forces engaged in operation in Ukraine. , Sébastien Lecornu, spokesperson for the minister of
the armed forces in France, via 'The Guardian'.
The documents cited do not come from the French armies. We do not comment on documents whose source is uncertain, Sébastien Lecornu, spokesperson for the minister of
the armed forces in France, via 'The Guardian'.
The DOJ is investigating the apparent leaks but has no other comment at this time
Credit: Wibbitz Top Stories Duration: 01:31Published
Kevin O'Leary, chairman of O'Leary Ventures and host on "Shark Tank," reacts to the Senate hearing on the collapse of Silicon Valley Bank. #CNN #News
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