Silicon Valley Bank collapse: White House urges calm as bank failure recalls 2008 crisis

,"repeal the disastrous 2018 bank deregulation law, break up too big to fail banks, and address the needs of working families, not the risky bets of vulture capitalists."a similar argument in a New York Times op-ed

, urging"Congress, the White House‌ and banking regulators" to"reverse the dangerous bank deregulation of the Trump era." Congress is unlikely to act, given the sharp partisan divisions in both chambers. As for the White House, Biden said on Monday morning that all SVB deposits would be covered by a banking industry fund .

“No losses will be borne by the taxpayers,” the president said in his remarks. And the bank’s management, he added, would be fired. Biden was vice president in 2009, when then-President Barack Obama and his treasury secretary, Timothy Geithner, pulled the American financial system back from imminent collapse. But many progressives called for sweeping reforms such asFor now, at least, such calls have been muted, with little sense thus far that a systemic crisis requiring large-scale fixes is in the works.

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How Silicon Valley Turned on Silicon Valley BankThe fallout from Silicon Valley Bank threatens to engulf Silicon Valley—and has put the rest of the banking system on edge Biden’s America. Are we having fun yet? bank crooks with silicon valley tech libs. boo hoo The money in SVB most are richest's and oversea dirty money from CCP families. Let it fail.
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