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Greed Wins Again: US Oligarchs Stay Comfortable Amid Banking Collapse

26 мар. 2023 г.

How long will the US continue to insist on its system of privatized gains and socialized losses?

Since Silicon Valley Bank (SVB) went belly-up on March 10th, the economy-wide repercussions have yet to be felt. SVB was the 16th largest in the US. Some analysts have blamed the US Federal Reserve for raising interest rates, which depressed the value of already-existing US Treasury bonds. Like many banks, SVB invested in these bonds as an allegedly low-risk way to store and grow their assets.

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Voiced by Paul Shepard

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#capitalism #banks #collapse

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