Silicon Valley Bank, Signature Bank and other distressed banks have been done in by rapid increases in interest rates by the Federal Reserve Bank. These commercial banks had long positions in Treasury obligations that lost value as interest rates went up. With monetary friends like these…
President Obama goes after Republicans on micro mini-non-issues. This week, he toured college and university campuses to urge students to support his attempt to keep Stafford student loan interest rates at 3.4% rather than allowing them to rise to 6.8%. Not exactly Hope and Change, is it?
