Yellen rules out bailout of Silicon Valley Bank owners, investors

Treasury Secretary Janet Yellen said on Sunday that the U.S. would not consider a bailout of Silicon Valley Bank owners and investors after its historic failure last week, saying in the aftermath of the 2008 banking crisis that “we’re not going to do that again.”

“Well let me be clear that during the financial crisis, there were investors and owners of systemic large banks that were bailed out,” Yellen said in an interview with CBS’s “Face The Nation.” “The reforms that have been put in place means that we’re not going to do that again. But we are concerned about depositors and are focused on trying to meet their needs.”