by Eric Green
This example of getting along came in marked contrast to how some legislators in Congress (mis)behaved during President Biden’s February 7 State of the Union address. As Biden talked about how a minority of GOP members aimed to cut spending for the Social Security and Medicare programs, Rep. Marjorie Taylor Greene and a few of her fellow Republicans interrupted the speech by booing, shouting out rude objections, and generally making fools of themselves.
Read more...by Antonio Graceffo
The short explanation of what happened to SVB is that it was hit by a run on the bank. Due to the fractional reserve banking system used in the United States and other countries, if every depositor decided to withdraw their money on the same day, the bank would run out of funds. Only a small percentage of all deposits are held in a bank. The rest are loaned out, and this is how banks earn money.
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