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Understanding bank runs, failures and delayed paychecks

Compass Coffee baristas kept the caffeine flowing this week, but their paychecks froze after the DC start-up’s bank – Silicon Valley Bank – failed on March 10th. A spokesman from the local coffee house says all employees got their wages by March 13th after the federal government stepped in to backstop all the money deposited at the failed bank. And while this move by the government gave many a sigh of relief, many questions remain about what this bank failure means for the economy. This WTOP financial contributor Barry Glassman, President of Glassman Wealth Services, explains what happened to Silicon Valley Bank, why Compass Coffee employees were impacted and how we should react.  

Hail to the chief: Take our presidential trivia quiz

EDITOR'S NOTE: WTOP first brought you this quiz in 2019. Presidents Day is coming. How well do you know the less-important facts about the nation's leaders? Take WTOP's quiz — with any luck, it won't take you all Presidents Day to finish it.
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