Biden Administration , Takes Action Following , Silicon Valley Bank Shutdown.
Biden Administration , Takes Action Following , Silicon Valley Bank Shutdown.
On March 13, President Joe Biden said that people
should remain confident in the banking system
following the collapse of Silicon Valley Bank last week.
On March 13, President Joe Biden said that people
should remain confident in the banking system
following the collapse of Silicon Valley Bank last week.
Thanks to the quick action of my
administration over the past few days,
Americans can have confidence that
the banking system is safe. Your deposits
will be there when you need them, Joe Biden, President of the United States, via NBC.
Thanks to the quick action of my
administration over the past few days,
Americans can have confidence that
the banking system is safe. Your deposits
will be there when you need them, Joe Biden, President of the United States, via NBC.
NBC reports that it was, the second-largest bank failure, in the history of the United States.
In an attempt to ease uncertainty regarding
the U.S. banking system, President Biden
addressed actions his administration plans to take.
According to Biden, the administration
will implement measures to protect
customers' deposits and safeguard U.S. taxpayers,
while also holding responsible parties accountable.
According to Biden, the administration
will implement measures to protect
customers' deposits and safeguard U.S. taxpayers,
while also holding responsible parties accountable.
In my administration, no one
is above the law. And finally,
I must reduce the risk
of this happening again, Joe Biden, President of the United States, via NBC.
NBC reports that Biden suggested that both Silicon Valley Bank and Signature Bank, another institution included in
the plan, should be placed under new management.
NBC reports that Biden suggested that both Silicon Valley Bank and Signature Bank, another institution included in
the plan, should be placed under new management.
If the bank is taken over by FDIC,
the people running the bank
should not work there anymore, Joe Biden, President of the United States, via NBC.
According to Biden, the administration
would also ask Congress and regulators
to bolster rules for banks.
According to Biden, the administration
would also ask Congress and regulators
to bolster rules for banks.
Americans can rest assured
that our banking system is safe.
Your deposits are safe. Let me also
assure you we will not stop at this
— we’ll do whatever is needed, Joe Biden, President of the United States, via NBC