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Are Taxpayers on the Hook for Silicon Valley Bank Bailout?

Posted on AllSides March 14th, 2023
From The Center
Anna Moneymaker/Drew Angerer/Win McNamee/Newsweek Photo Illustration/Getty Images

Early this week, the Biden administration announced the steps it is taking following the government's takeover of Silicon Valley Bank (SVB), a troubled favorite of the tech community that last week began to collapse after the rapid exodus of some of its deepest-pocketed account holders left it with more obligations than it had money.

The bank's collapse, one of the largest in U.S. history, came shortly after the crash of two banks heavily favored by the cryptocurrency community. The events have shaken public confidence in the U.S. financial sector as...

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