The Importance of an Emergency Fund and How to Get Started
Having an emergency fund is an important part of financial security. It is a cash reserve that can be used to cover unexpected expenses, such as medical bills, car repairs, or other issues outside your typical monthly budget. It is important to have an emergency fund in place so that you do not have to […]
Continue reading America’s Largest Banks Come Together to Inject $30 Billion into First Republic Bank
In the wake of the Silicon Valley Bank (SVB) collapse, 11 of the nation’s largest banks have come together to make a historic intervention, injecting $30 billion worth of uninsured deposits into First Republic Bank. Bank of America, Citigroup, JPMorgan Chase and Wells Fargo are each making a $5 billion deposit, while Goldman Sachs and […]
Continue reading Bank of America Sees Uptick in Deposits After Bank Collapse, Insurers Step In
The Bank of America Corporation (BAC) has reportedly taken in more than $15 billion in new deposits in the span of just days, according to Bloomberg News. This is in the wake of the collapse of three smaller banks, which has led to a loss of confidence in the safety of regional lenders. Insiders told […]
Continue reading GOP Pushes Back Against Biden’s Plan for Social Security
Republicans have been on the defensive for months, accused by Democrats of wanting to cut Social Security.[0] Now, GOP lawmakers are pushing back, pressuring the Biden administration to address the looming insolvency threat facing the program.[0] The issue came to a head during a Senate Budget Committee hearing on Wednesday, when Sen. Mitt Romney (R-UT) […]
Continue reading Macron Uses Article 49.3 to Impose Unpopular Pension Reform Amid Protests
French President Emmanuel Macron has taken the extraordinary step of using a constitutional maneuver to bypass parliament and impose his deeply unpopular pensions reform, in a move that has dealt a significant blow to his leadership.[0] The decision to trigger Article 49.3 of the French constitution, which grants the government executive privilege to push through […]
Continue reading Pension Funds Suffer Millions in Losses After Silicon Valley Bank Collapse
The collapse of Silicon Valley Bank and Signature Bank has caused pension funds around the world to suffer millions of dollars in losses.[0] The Employee Retirement System of Rhode Island, the California Public Employees Retirement Fund (CalPERS), and the North Carolina Retirement System were among those affected, with investments totaling $17.9 million, $67 million, and […]
Continue reading Pension Funds Lose Millions in SVB Collapse, Investigation Underway
The collapse of Silicon Valley Bank (SVB) has caused pension funds around the world to lose millions of dollars, including the Ohio State Teacher’s Retirement System (STRS), which had $27.2 million invested in the bank just before its failure.[0] The Employee Retirement System of Rhode Island (ERSRI) was also one of the public pension funds […]
Continue reading Social Security COLA Could Reach 3% in 2023: What You Need to Know
Seniors and millions of others on Social Security receive an annual cost-of-living adjustment (COLA) that is geared towards aligning their monthly checks with inflation.[0] According to an early estimate from the Senior Citizens League, this year’s COLA could be as high as 3 percent, or even lower, based on the 12-month average rate for the […]
Continue reading Macron’s Controversial Move to Bypass Parliament and Impose Pensions Reform Sparks Protests in Paris
President Emmanuel Macron of France has made a highly contested decision to utilize an unconventional constitutional technique to apply his unpopular pension reform without the approval of parliament, a move which has greatly impacted his authority. In June of last year, the French president lost its absolute majority in the National Assembly in the parliamentary […]
Continue reading Silicon Valley Bank Collapse: The Perfect Storm of Risky Risk-Taking and Unstable Financial Infrastructure
Silicon Valley Bank, which has the 16th largest assets in the United States, is focused on providing credit to technology startups and venture capital firms. It had A great deal of fresh investments from a single concentrated sector.[0] There were an abnormal amount of substantial depositors (business accounts) that were not safeguarded by the FDIC.[0] […]
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