Bank crises have been around as long as banks have been in existence. The classic Christmas movie, It’s a Wonderful Life, is the easiest way to understand the concept. Banks, in their simplest form, take in deposits and then make loans with that money. The bank earns the difference between the interest it pays depositors […]

With the tax deadline just a few weeks ago—Tax Day is April 18—taxpayers are scrambling to finish and file their returns. One thing that may be causing some confusion this year? Cryptocurrency. While it’s not a new tax topic, conflicting advice about losses and different wording on Form 1040 are resulting in some head-scratching. Here […]

It’s the 15-year anniversary of the government intervention to facilitate the JP Morgan Chase purchase of Bear Stearns. To commemorate the occasion, the banking system and Washington, D.C. decided to have another banking crisis. Paraphrasing an Oscar-winning movie, the capital was everything everywhere all at once this past week. The collapse of two banks – […]

Silicon Valley Bank (SVB VB ), known as the tech industries go to financial institution (and the 16th largest US bank), collapsed. This is the second-largest bank failure in US history. More than half of US tech start-ups banked with SVB. The collapse of the famed bank happed swiftly: – On Wednesday March 8th SVB […]