diversity and economics that our director of our national economicna council, lael brainard, is also fixated when he was at the fed in 2021, on another genius . fuen brandon was at the fed in 2020 one , she wasn t too concerned about future banks fe collapses due to the insane and reckless fed polic y she was overseeing. no. why worry about that? because there why worry about ths climate chae and that s what she was really worried about. that st she wae is part of our prudential and financial stability responsibilities. we are developing scenario analysis analysis to model the possible financiao mol risks associated s with climate change and assess the resilience of individuallie financial institutions in th financial institutions in the financial system to those risks. just to pausesystem to thosea ,anyone who writes that way wa is a. if youmoran. so if you find someone in a position of authority and economics who cannot write a declarative sentence, econrepared for your banks to f
ba banks in this country, wellsnkco fargo, bank of americauntry,, jp morgan, morgan stanley, collectively lost more tha nne fifty billion in market value in one day. that s quite a hiat s a ht. on the other hand , those bankss still exist. and you can t see that for bank.n valley as of this morning, silicon valley bank or svp, has gone under completely.es the that makes the second biggest bank failure in the history ofef this country and the significant sub finance, nearly half of all venture backed health care and technology companies in the unite healthcai states .ant cash it also apparently held significant cash reserves, just one of the biggestrves for cryptocurrencies, and it s now gone. federal regulators have renamed it and taken it over.ov and that means an awfu l lotf m more people lost an awful lot of money and most of that money was not insured. nhat theyno matter what they t, the fdic only guarantees bank fdicdeposits up to two hundred and fifty thousand. an