U.S. regulators said Sunday it shut down New York-based Signature Bank, a second financial institution they shuttered after Silicon Valley Bank’s collapse.
“We are also announcing a similar systemic risk exception for Signature Bank, New York, New York, which was closed today by its state chartering authority,” Treasury, Federal Reserve, and FDIC said in a joined statement Sunday evening.
Click here: https://www.cnbc.com/2023/03/12/regulators-close-new-yorks-signature-bank-citing-systemic-risk.html
Probably another niche crap bank involved in VC for zombie tech companies. That's what happens when you leave rates ultra low, print too much fiat for 15 years, and blow the biggest asset bubble ever. I hope we can someday go to sound money again.......bwahaha, JK
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