- Written by: Kamran Mofid
- Hits: 474
Yet another Banking Crash
Is the Collapse of the SVB the repeat of the spectacular fraud-ridden a la Madoff Ponzi scheme of 2008?
Were the big wigs at the bank con artists like Bernie too?
'The collapse of Silicon Valley Bank - the second-largest bank failure in US history -
sent anxiety across the financial system and shook the tech industry.' REUTERS/Dado Ruvic/Illustration
‘Silicon Valley Bank collapse is the second-largest failure in American history, followed by the Lehman Brothers financial crisis in 2008. The regulators shut down the bank entirely on Friday and seized the deposits. It all started on Wednesday when SVB needed to raise nearly $2.25 billion. When the bank failed to raise capital, it sold securities in loss to shore up the balance sheet. Investors reacted to this, and the bank’s share price fell over 60%. The venture capital firms also advised companies to withdraw their deposits. The banking sector has been deeply hit by the wave of SVB’s failure. Signature Bank of New York has also been shut down on Sunday, registering the third largest fall in the US…’-The Inside Story of Silicon Valley Bank’s Failure
See also: The SVB debacle has exposed the hypocrisy of Silicon Valley
‘As of mid-day 14 March, market panic caused by SVB collapse has wiped £382bn off bank stocks in recent days.’
- Written by: Kamran Mofid
- Hits: 449
Photo:peaceandjustice.org
Neoliberal Economics/ Capitalism and Value-free Oligarchy are the Enemies of Humanity
In these days of populist, polarised, creeping right wing authoritarianism and corruption, and when the petulant oligarchs rule the world over, this is A Must-read Book on the inhumanity of America’s Oligarchs maximising pain and suffering, destroying everything on their path, whilst pocketing billions and billions in the process!
- Written by: Kamran Mofid
- Hits: 451
'We cannot change the past, but we can change our attitude toward it. Uproot guilt and plant forgiveness.
Beyond the Agony and Hatred, Destruction and Pain, There is Always Hope
On the 1st Anniversary of the war in Ukraine, it is right first and foremost to express our sympathy to those wounded in or bereaved by War. We also give thanks for those who sacrificed or risked their lives for others and for those who labour for reconciliation amongst nations and peoples. Blessed are those who are peacemakers.
Nota bene
The Best Way to Honour the Victims of the War in Ukraine is: ‘To transform each one of us into builders of Peace.’- Europe for Peace
From time immemorial, humanity, it seems, has not learned an iota about the stupidity and absurdity of war and its horrors. War is nothing but a folly, lest we forget, again and again.
All Wars are Acts of Savagery
All Wars are Acts of Barbarism
'Let the horror in the Ukraine open our eyes to the suffering of war around the world.'
Remembering the Victims of All Wars
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