News / Spotlight

US banking failure

Saturday, 11 March 2023 9:16 PM [ Last Update: Saturday, 11 March 2023 10:13 PM ]

The US has pulled the plug on Silicon Valley Bank in biggest banking failure in country since 2008.

The bank failed after depositors hurried to withdraw money over liquidity concerns. It is the second largest failure of financial institution in US history. The bank has been key lender to US startups since 1980s.

In this edition of the Spotlight, Press TV interviews Frank Emspak, University Professor from Madison, and Clive Menzies, political economy researchers and analyst from London to look at high inflation and banking failure in the US.

Press TV’s website can also be accessed at the following alternate addresses:

www.presstv.co.uk