Yellen: No SVB bailout

Feds say there will be NO bailout for SVB despite fears of market meltdown as Biden holds crisis talks and it’s revealed bonuses were paid to staff just HOURS before bank collapsed

• Treasury Secretary Janet Yellen announced that the federal government will not bail out the Silicon Valley Bank
• The bank failed on Friday after a 60% drop in shares du to declining customer deposits
• Financial industry executives warn that the government only has until Monday to prevent other regional banks from feeling the effects