Oh no – one of the largest pension plans in Sweden had 50% of its investments in the Silicon Valley Bank that went under on Friday. 

We’ve reported how SVB’s failure may be the beginning of other banks going under.  First Republic Bank is one bank where investors have concerns.  We reported on lines outside the bank in California.

TOP EXECUTIVES with Silicon Valley Bank Sold Their Shares Weeks Before Crash – Investors Tried to Pull $42 Billion on Thursday before Bank Failed on Friday

We also know that at least one firm related to Goldman Sachs and cryptocurrencies is in trouble as well.  CIRCLE announced that it had over $3 billion in the SVB and its stablecoin is no longer pegged to the dollar in early weekend trading.

Oh No! Crypto Company CIRCLE Admits It had a $3.3 Billion Exposure at Silicon Valley Bank

It’s not just silicon valley folks, a very large pension plan in Sweden was invested heavily in the Silicon Valley Bank.

The fallout from Silicon Valley Bank has spread to Sweden’s largest pension group after the fund more than doubled its holdings in the Californian bank during the past year.

Stockholm-based Alecta, which oversees more than $104 billion in assets, was SVB’s fourth-biggest shareholder at the end of last year with a holding worth $605 million, according to data compiled by Bloomberg. Following a 60% plunge in SVB’s stock on Thursday, the value of the stake was worth only $279 million.

“The holding represents less than 1% of our assets and will not impact our solvency metrics,” said Alecta’s head of communications Jacob Lapidus, who confirmed the pension fund has added to its SVB holding since it became a shareholder in 2019.

We’ll see what other companies and individuals are hit hard as a result of this bank’s failure. 

The post Swedish Retirement Pension was SVD’s 4th Largest Shareholder with Holdings of Nearly $280 Million in Stock on Friday appeared first on The Gateway Pundit.

Illinois State Representative La Shawn Ford (D-Chicago) is proposing a bill to criminalize parents who “knowingly, with intent to discipline or alter the behavior of a child, says or messages anything that would coerce the child.”  The bill, which is currently pending, would criminalize the behavior as “parental bullying.”

Bill HB0029  states:

Amends the Criminal Code of 2012. Creates the offense of parental bullying. Provides that a parent or legal guardian of a minor commits parental bullying when he or she knowingly and with the intent to discipline, embarrass, or alter the behavior of the minor, transmits any verbal or visual message that the parent or legal guardian reasonably believes would coerce, intimidate, harass, or cause substantial emotional distress to the minor. Provides that parental bullying is a petty offense. Provides that if a person is convicted of parental bullying, the court shall order that person to pay for the costs of prosecution and that a portion of any fine imposed, as determined by the court, be placed in escrow for the purchase of a certificate of deposit for use by the victim when he or she attains 18 years of age.

Ford introduced the bill in December, but there are currently no other sponsors.

Wirepoints reports:

Think of all that would criminalize: Yelling at your child to stop throwing food at the table. Chewing out your kid for not doing homework. Giving your child a mean look for using foul language. The list is endless.

To top it off, the website of the bill’s sponsor, Rep. La Shawn Ford (D-Chicago), says he “is a firm believer in the power of responsible parenting and established the Council on Responsible Fatherhood, which aims to support fathers and help them to become more responsible and present.”

Labeling disciplined parenting as “bullying” may be precisely the last thing Chicago needs. Only 11% of Black kids in Chicago public schools read at grade level. Just 6% can do math at grade level. That’s a parental failure, not just school failure. And crime? Can any sane person deny that Chicago’s crime epidemic stems in part from parents who don’t discipline?

In 2021, Ford resigned from the board of trustees at Loretto Hospital over how it handled vaccine distribution to people  not yet eligible for the vaccine.

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