Biden Says Banking System Is Safe After Silicon Valley Bank Collapse
Posted on AllSides March 13th, 2023
From The Center
NATHAN FRANDINO/REUTERS
President Biden on Monday said the banking system is safe, as he stressed steps taken to limit the fallout from the collapse of Silicon Valley Bank and shore up confidence in the financial system.
“Thanks to the quick action of my administration over the past few days, Americans can have confidence that the banking system is safe,” Mr. Biden said in televised remarks.
Mr. Biden’s remarks came one day after federal regulators announced emergency measures to guarantee all depositors with money at Silicon Valley Bank following its failure, rather than the standard $250,000 in insured deposits....
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