![]() ![]() Treasury Department should intervene to help the ailing institution and prevent various calamities that might emerge due to its failure. In response to SVB's collapse on Friday, Yang urged in a Twitter thread that either the California government or the U.S. ![]() Yang has since changed his party affiliation to independent and co-founded the centrist Forward Party. That campaign ultimately failed, as did a 2021 run for mayor of New York City. bank failure since Washington Mutual in 2008.įollowing a career at various businesses, Yang rose to national prominence as a candidate for the Democratic presidential nomination in 2020, where he most notably advocated for universal basic income. Its ongoing troubles make it the most significant U.S. While largely unknown to the broader United States, SVB was a go-to financial institution for startup businesses in California's Silicon Valley tech corridor, with over $200 billion in assets by the end of last year, according to CNN. SVB on Friday began to collapse in the face of a sudden run on its sizeable deposits. Andrew Yang, a businessman and Democratic political candidate in multiple races, urged on Friday for government action on the collapse of Silicon Valley Bank (SVB), warning of potential mass layoffs and "financial contagion."
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |