Ex-Silicon Valley Bank CEO Greg Becker jets to Hawaii after collapse. On Friday, investors began freaking out about another European banking giant, Deutsche Bank and began predicting its failure.įollow The Post’s coverage of Silicon Valley Bank’s collapse Credit Suisse nearly imploded and was forced to merge with its Swiss neighbor, UBS. APįirst Republic, with more than $200 billion in assets, is on the precipice. Treasury Secretary Janet Yellen testifying on Capitol Hill Thursday. Sleepy Joe might not have much choice now given the growing severity of what she and the country are facing: The collapse of large regional banks Silicon Valley and Signature banks. Yet she survived that attempt to get her removed because her ultimate boss, the president, didn’t want to fire a woman in such a high-profile post, these people say. Unlike Yellen, they have real-world business experience (Yellen’s been in academia and government throughout her career). It’s why they floated possible replacements last year, including Commerce Secretary Gina Raimondo, and Brian Moynihan, the CEO of Bank of America. They grew sour over her bungled response to inflation (recall how she said it was transitory as it was exploding). finally act? They need to put Yellen out of her misery and end ours by handing her job to someone who knows how to deal with the very real possibility of banks failing on a scale not seen since the 2008 financial crisis and a possible deep recession.Īs we have reported, the political types in the White House - the people that craft messaging and give input on cabinet choices - have been increasingly wary of Yellen’s ability to do the job despite her expansive resume and years running the Fed, people with direct knowledge tell the Post. The question is when will Sleepy Joe & Co. 
Janet Yellen is once again on thin ice inside the Biden Administration over her bungling of the banking crisis that keeps roiling markets, The Post has learned.
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