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The Latest Breaking News from the Treasury Department

Biden sidesteps banking turmoil as he calls on Congress to act

As the global banking crisis stretches into its third week, President Joe Biden has turned to a familiar playbook — lay low and point the finger at Congress.

Tribune News Service

US government seeks to avoid 'bailout' label amid banking turmoil

New York (AFP) - US authorities may have taken extraordinary steps in recent weeks to assure depositors of failed lenders Silicon Valley Bank and Signature Bank, but they are avoiding parallels with bailouts of the 2008 crisis -- which have been criticized.

AFP

Will the collapse of two US banks be followed by more? These banking veterans say no, for now

The sudden collapse of two U.S. banks last week left many people wondering about the safety of their own deposits, the health of the banking system and consequences down the road.

Tribune News Service

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Elon Musk Sends Cryptic Message About the Banking Crisis

The billionaire CEO of Tesla said that the current financial system is inefficient.

The Street

SVB: Financier Bill Ackman Rips First Republic Bank Rescue Plan

Prominent hedge-fund manager Bill Ackman warns that the California bank's risks have now spread to big banks.

The Street

Why TikTok's Security Risks Keep Raising Fears

TikTok is once again fending off claims that its Chinese parent company, ByteDance, would share user data from its popular video-sharing app with the Chinese government, or push propaganda and misinformation on its behalf. China’s Foreign Ministry on Wednesday accused the United States itself of spreading disinformation about TikTok's potential…

Asharq Al-Awsat

TikTok to be banned on government phones in the UK

Manchester Evening News

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China Says US Spreading Disinformation, Suppressing TikTok

China accused the United States on Thursday of spreading disinformation and suppressing TikTok following reports that the Biden administration was calling for its Chinese owners to sell their stakes in the popular video-sharing app. The US has yet to present evidence that TikTok threatens its national security and was using…

Asharq Al-Awsat

China says US spreading disinformation, suppressing TikTok

China is accusing the United States of spreading disinformation and suppressing TikTok following reports that the Biden administration was calling for its Chinese owners to sell their stakes in the popular video-sharing app

The Independent UK

TikTok dismisses calls for Chinese owners to divest in US

TikTok is dismissing calls for its Chinese owners to sell their stakes in the popular video-sharing app, saying such a move wouldn’t help protect national security

The Independent UK

SVB Collapse: 'Big Short' Michael Burry Sees No Reason to Panic

The legendary investor who anticipated the 2008 financial crisis believes that the current panic is not necessary.

The Street

Washington reacts on the fly to Silicon Valley Bank failure

After a frenetic weekend of round-the-clock briefings, U.S. policymakers took the audacious step of guaranteeing all the deposits of the failed Silicon Valley Bank — even those exceeding the Federal Deposit Insurance Corporation's $250,000 limit

The Independent UK

Fox host trashes GOP's Hunter Biden hype

"It's been five years and what do we have for it? Five years is a long time to be investigating," Bill Hemmer said

Salon

US Treasury to give House Republicans a look at financial reports on Biden's family and associates

WASHINGTON — The U.S. Treasury Department is set to allow House Republicans to inspect reports on foreign banking and other business transactions by relatives of President Joe Biden, including his son Hunter Biden and his associates.

Tribune News Service

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The Independent UK

US turns to new ways to punish Russian oligarchs for the war

The U.S. has begun an aggressive new push to inflict pain on Russia’s economy and especially its oligarchs with the intent of thwarting the Kremlin’s invasion of Ukraine

Tribune News Service

Biden says those behind SVB bank ‘mess’ will be held accountable

President Joe Biden said that he ordered the Treasury Department and his economic advisers to address the failures of Silicon Valley Bank and Signature Bank, adding that those responsible will be held accountable.

Tribune News Service

US plans emergency measures to backstop banks after SVB

The Federal Reserve and the Treasury Department are preparing emergency measures to shore up banks and ensure they can meet potential demands by their customers to withdraw money, as the U.S. seeks to stave off a deeper crisis after SVB Financial Group’s failure.

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