not a big deal. just this one bank. it s not connected to anything else at all. and the fact that this bank failed, had nothing to do with the fact that people who run it spent a ton of time doing irrelevant crap that had to do with politics and changing american culture. are you reassured by that? you should know that cecilia rausch has been thinking a lot about this when she worked at princeton, a university in new jersey. ise wrote her research agenda on diversity, equity, and inclusion. the title is, we re quoting, diversity in the economics profession, a new attack on an old problem, because the color of your economist is essential. their competence, not so much. just so you know. by the way, these are the consequences of that attitude. see, south africa. where they don t have electricity tonight. coincidentally or not, that s the very same topic, diversity and economics, that our director
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
Treasury Secretary Janet Yellen on Thursday helped mark a milestone in U.S. history when she held up a newly minted $5 bill signed for the first time ever by two women.