The “Basic Instinct” actress discussed her own financial worries when accepting the Courage Award on Thursday night at the Women’s Cancer Research Fund’s An Unforgettable Evening benefit. “I am aware that it is challenging to find out how to SMS money on that thing you need to get on.
Even though I’m a tech moron, I can still write a damn check. That takes courage right now because I know what’s going on. I recently lost half of my savings due to a banking issue, but that doesn’t mean I’m not here “explained Stone.
She doesn’t go into detail about the “banking situation,” but her remarks were made shortly after Silicon Valley Bank (SVB), whose failure significantly increased market volatility. When California regulators closed the bank on March 10, it was the 16th largest bank and mostly catered to tech start-ups.
Following a liquidity crisis in which depositors rushed to withdraw their money out of fear for the bank’s survival, the FDIC took over the bank’s operations. The largest bank failure since Washington Mutual’s demise in 2008, was the second-largest bank failure in American history.
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Days prior to its demise, SVB revealed significant losses, which caused a 60% decline in the value of its stock. There were concerns that hundreds of new businesses may lose access to their money and be unable to pay their employees because the vast majority of the bank’s customers had accounts above the FDIC’s $250,000 protection threshold.
On Sunday, the Treasury Department, the Federal Reserve, and the FDIC unveiled a strategy to guarantee that SVB customers may access all of their funds, up to and including the $250,000 cap. Stone continued by making mention of the recent death of her brother, Patrick Stone, who died last month at the age of 57 after suffering a heart attack.
She addressed the audience, “My brother just passed away, but it doesn’t mean I’m not here. “For any of us, this is not an easy time. Although the globe is going through a difficult period right now, I won’t let some politician tell me what I can and cannot do.
What my life is worth and what it is not, as well as how I can and cannot live. So get up. Say what you’re worth and stand up. I challenge you. That’s what bravery entails.” In her memoir, “The Beauty of Living Twice,” the 65-year-old spoke up about her share of health tragedies over the years.
She had a stroke and had surgery to remove benign tumors from her breasts in 2001. She revealed on Instagram in November of last year that she also had a “big fibroid” tumor removed. She explained to the crowd at the benefit, “Never feel pressured to forgo getting a mammogram, a blood test, or surgery because it is unnecessary. I’m telling you this because none of you were aware that I had one and a half breasts’ worth of tissue removed.”