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Author Topic: No Cause for Alarm: Janet Yellen to Reassure Congress U.S. Banking System ‘Remains Sound’  (Read 565 times)

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Offline mystery-ak

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No Cause for Alarm: Janet Yellen to Reassure Congress U.S. Banking System ‘Remains Sound’
« on: March 16, 2023, 01:01:19 pm »
No Cause for Alarm: Janet Yellen to Reassure Congress U.S. Banking System ‘Remains Sound’

Simon Kent 16 Mar 2023

The U.S. banking system “remains sound” and Americans can feel “confident” about their deposits with no need to panic over recent events, Treasury Secretary Janet Yellen is set to tell the Senate Finance Committee on Thursday.

Her testimony will come a week after the second-largest bank collapse in U.S. history.

AP reports Yellen will be the first Biden administration official to face lawmakers over the decision to protect uninsured money at two failed regional banks, a move critics labelled as a bank “bailout.”

“The government took decisive and forceful actions to strengthen public confidence” in the U.S. banking system, Yellen says in prepared testimony released before her appearance.

“I can reassure the members of the Committee that our banking system remains sound, and that Americans can feel confident that their deposits will be there when they need them.”

She made no reference in the prepared remarks to the situation surrounding Credit Suisse, which saw its shares plunge on Wednesday before regulators pledged a liquidity lifeline to the flagship Swiss lender, as Breitbart News reported.

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https://www.breitbart.com/economy/2023/03/16/no-cause-for-alarm-janet-yellen-to-reassure-congress-u-s-banking-system-remains-sound/
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Offline mystery-ak

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Re: No Cause for Alarm: Janet Yellen to Reassure Congress U.S. Banking System ‘Remains Sound’
« Reply #1 on: March 16, 2023, 01:24:47 pm »
okie dokey..... :thumbsup:
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Offline Free Vulcan

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Re: No Cause for Alarm: Janet Yellen to Reassure Congress U.S. Banking System ‘Remains Sound’
« Reply #2 on: March 16, 2023, 02:23:02 pm »
If the sound is like a cat being strangled, then I'd say she's right.
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Offline libertybele

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Re: No Cause for Alarm: Janet Yellen to Reassure Congress U.S. Banking System ‘Remains Sound’
« Reply #3 on: March 16, 2023, 03:01:31 pm »
 9999hair out0000 888mouth
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Offline Free Vulcan

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Re: No Cause for Alarm: Janet Yellen to Reassure Congress U.S. Banking System ‘Remains Sound’
« Reply #4 on: March 16, 2023, 03:06:02 pm »
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Offline Kamaji

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Re: No Cause for Alarm: Janet Yellen to Reassure Congress U.S. Banking System ‘Remains Sound’
« Reply #5 on: March 16, 2023, 03:41:47 pm »
There is a PoV that suggests that if one has to confirm that something is X, then that something is almost certainly not X.

So, if Yellen has to publicly reassure Congress that the banking system "remains sound", on this PoV, it probably isn't, and she knows that.
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Offline Wingnut

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Re: No Cause for Alarm: Janet Yellen to Reassure Congress U.S. Banking System ‘Remains Sound’
« Reply #6 on: March 16, 2023, 03:50:31 pm »
"Pay no attention to the man behind the curtain.  All is well in OZ."  Now Go away!
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Offline catfish1957

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Re: No Cause for Alarm: Janet Yellen to Reassure Congress U.S. Banking System ‘Remains Sound’
« Reply #7 on: March 16, 2023, 04:18:12 pm »
Wow, just wow.....

VIX is back down to 33....   Markets have stabilized, and it's like nothing happened...... 


My best analogy right now is the market and finance in general is like a herd of Gazelles.  Early in the week the quickest and most bad ass. Lion just picked one Gazelle off, and devoured it under a tea tree, crunching every bone in ear shot of the other gazelles. 

Moments later all of those Gazelles are back grazing as ususal.  Apparently funky fundementals and speculative exuberance have trumped common sense investing. 
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Offline LMAO

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Re: No Cause for Alarm: Janet Yellen to Reassure Congress U.S. Banking System ‘Remains Sound’
« Reply #8 on: March 16, 2023, 07:44:22 pm »
Every time this woman speaks, all that goes through my mind is “inflation is transitory.”

Jim Cramer, Paul Krugman, and Janet Yellen should all be names included on Jeopardy as “ what are financial people who’ve been consistently wrong.”
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Offline libertybele

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Re: No Cause for Alarm: Janet Yellen to Reassure Congress U.S. Banking System ‘Remains Sound’
« Reply #9 on: March 16, 2023, 08:11:23 pm »
Quote from: Free Vulcan on March 16, 2023, 03:06:02 pm
@libertybele

So you back?

Reading posts for the most part .... things are about the same.  :patriot:
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Offline Hoodat

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Re: No Cause for Alarm: Janet Yellen to Reassure Congress U.S. Banking System ‘Remains Sound’
« Reply #10 on: March 16, 2023, 10:28:15 pm »
Whatever Yellen says, expect the opposite.
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