Bill Ackman predicted the lack of government intervention to guarantee SVB FDIC insured deposits would lead to an ‘economic collapse.’
Related: BIDEN’S ECONOMY: Silicon Valley Bank COLLAPSES Following Run on Bank, 2nd Biggest Bank Failure In United States History
America’s Biggest Banks Lost More Than 50 billion Dollars In A Single Day
1. Depositors at small banks move to JP Morgan
2. Everyone moves from cash to treasuries & money markets
3. Bank assets are no longer backed by deposits
4. More runs on banks
5. Socialists cheer on demise of small banks
6. Execs at big banks get mega rich
So let’s understand, the Biden regime is sending HUNDREDS OF BILLIONS to a corrupt dictatorship (that launders money for the Democrat criminal racket)
but they won’t cover the failed FDIC bank deposits in a bank run caused by Biden’s catastrophic economic polices. #SVBCollapse
— 🇺🇸 Pamela Geller 🇺🇸 (@PamelaGeller) March 12, 2023
Hi, I’m Lindsey. A bit about me:
– Ohio mother of 4
– I employ a team of 15 as a start-up founder & CEO of Strongsuit
– drive a used Honda Odessey
– husband works in manufacturing
– The financial future of my company, team and family are at risk w/ the collapse of SVB (1/23)
— Lindsey Michaelides (@lcmichaelides) March 11, 2023
‘Irreversible mistake’: Hedge fund manager Bill Ackman warns of ‘economic meltdown’ following Silicon Valley Bank collapse
By Jesse O’Neill, NY Post, March 12, 2023:
Hedge-fund manager Bill Ackman predicted that an “economic meltdown” was looming on Monday following Friday’s collapse of Silicon Valley Bank.
In a rambling, 649-word, one-paragraph tweet Saturday, the billionaire predicted that uninsured bank customers would rush to withdraw cash Monday unless the government steps in to guarantee their funds and “fix a-soon-to-be-irreversible mistake.”
The 16th largest bank in the US, which provided financing for a large chunk of the country’s venture backed tech and health companies, was taken over by the Federal Deposit Insurance Corporation Friday as its stock plummeted due to liquidity concerns tied to rising interest rates.
It marked the largest bank collapse since the 2008 financial crisis, and it stranded billions of dollars belonging to companies and investors, whose deposits in excess of $250,000 are not covered by the FDIC.
Bill Ackman, the founder and CEO of Pershing Square Capital Management in Manhattan, predicted the lack of government intervention to guarantee SVB funds would lead to an ‘economic collapse.’
Bloomberg via Getty Images
“Absent @[email protected] or @BankofAmerica acquiring SVB before the open on Monday, a prospect I believe to be unlikely, or the gov’t guaranteeing all of SVB’s deposits, the giant sucking sound you will hear will be the withdrawal of substantially all uninsured deposits from all but the ‘systemically important banks’ (SIBs),” Ackman wrote.
The FDIC was said to be looking to find a bank that would merge with the failed California institution over the weekend, as the US weight the creation of a fund that would allow regulators to reinforce deposits if other banks fail in the wake of the collapse, according to Bloomberg.
The Truth Must be Told
Your contribution supports independent journalism
Please take a moment to consider this. Now, more than ever, people are reading Geller Report for news they won’t get anywhere else. But advertising revenues have all but disappeared. Google Adsense is the online advertising monopoly and they have banned us. Social media giants like Facebook and Twitter have blocked and shadow-banned our accounts. But we won’t put up a paywall. Because never has the free world needed independent journalism more.
Everyone who reads our reporting knows the Geller Report covers the news the media won’t. We cannot do our ground-breaking report without your support. We must continue to report on the global jihad and the left’s war on freedom. Our readers’ contributions make that possible.
Geller Report’s independent, investigative journalism takes a lot of time, money and hard work to produce. But we do it because we believe our work is critical in the fight for freedom and because it is your fight, too.
Please contribute here.
Make a monthly commitment to support The Geller Report – choose the option that suits you best.
Quick note: We cannot do this without your support. Fact. Our work is made possible by you
and only you. We receive no grants, government handouts, or major funding.
Tech giants are shutting us down. You know this. Twitter, LinkedIn, Google Adsense, Pinterest permanently
banned us. Facebook, Google search et al have shadow-banned, suspended and deleted us from your news feeds.
They are disappearing us. But we are here.
Subscribe to Geller Report newsletter here— it’s free and it’s essential NOW when informed decision making and opinion is essential to America’s survival.
Share our posts on your social channels and with your email contacts. Fight the great fight.
Follow Pamela Geller on Gettr. I am there. click here.
Follow Pamela Geller on Trump’s social media platform, Truth Social.
It’s open and free.
Remember, YOU make the work possible. If you can, please contribute to Geller Report.
Join The Conversation. Leave a Comment.
We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spammy or unhelpful, click the – symbol under the comment to let us know. Thank you for partnering with us to maintain fruitful conversation.
Please note: We no longer use Disqus; your Disqus login/password will no longer work on this site.
If you would like to join the conversation, but don’t have an account, you can sign up for one right here.
If you do have an account, but are having problems logging in or leaving a comment, it may be because of a browser extension or add-on, perhaps uBlock Origin or an ad blocker or something else. We want you to join the conversation, so perhaps disable browser extensions or your ad blocker until that “post comment” button appears. We look forward to seeing your comments below!