Business & Tech Silicon Valley Bank Gets Acquired By Something Called First Citizens Bank, Back Operating This Morning What’s left of the bankrupt and taken-over-by-the-government Silicon Valley Bank has been bought up by North Carolina-based First Citizens Bank, and while we don’t know the price, First Citizens got a hefty discount of at least $16.5 billion.
Business & Tech SF-Based First Republic Bank Gets $30B Lifeline From Group of Larger Banks It was good news on Thursday for regional bank First Republic, which on Monday was facing serious stress in the wake of the failure of Silicon Valley Bank. A coalition of larger banks agreed to funnel $30 billion in deposits to the bank to help it shore itself and meet the demand for withdrawals.
SF News Unemployed Homeowners to Receive Federal Aid According to Associated Press, "The Obama administration is providing $3 billion to unemployed homeowners facing foreclosure in the nation's toughest job markets with the largest chunk coming to California." The Golden State will
SF News Another Day, Another Multi-Billion Dollar Loan The Federal Reserve just agreed to hand over $37.8 billion to vile insurance giant American International Group. You know, to go along with the $85 billion loan bestowed to the troubled insurance
SF News House Defeats $700 Billion Bailout Bill, Dow's Drops 777 Points While we convert our money into gold, porn, and cocaine, check out how local California house members voted on the bailout, which was defeated (29 in favor, 24 opposed) today. In favor: Nancy
