The Federal Deposit Insurance Corporation insures deposits up to $250,000, but many of the companies and wealthy people who used the bank known for its relationships with technology startups and venture capital had more than that amount in their account. There are fears that some workers across the country won’t receive their paychecks.
Yellen, in an interview with CBS’ “Face the Nation,” provided few details on the government’s next steps. But she emphasised that the situation was much different from the financial crisis almost 15 years ago, which led to bank bailouts to protect the industry.
This story is from the March 13, 2023 edition of Millennium Post Delhi.
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This story is from the March 13, 2023 edition of Millennium Post Delhi.
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