Presidential candidates react to Silicon Valley Bank collapse While Former President, Trump, blames ‘out-of-control Democrats'

SVB, which had been the 16th-largest bank in the U.S., based in Santa Clara, California, collapsed the first week of March and is now under the control of federal regulators.

The Federal Deposit Insurance Corporation (FDIC) only insures deposits up to $250,000, and many investors are saying a government bailout will be necessary to protect the depositors. Deposits that are insured by FDIC are supposed to be available by Monday morning, sparking fears that a run of withdrawals will create a domino effect of collapse.

“This is nothing more than a sad attempt to gaslight the public to evade responsibility,” he said. “The fact is that Biden has presided over a catastrophic economy that has devastated everyday Americans and has caused misery across the country due to his anti-America policies” states the Trump campaign spokesman, Steven Cheung.

“This is nothing more than a sad attempt to gaslight the public to evade responsibility,” he said. “The fact is that Biden has presided over a catastrophic economy that has devastated everyday Americans and has caused misery across the country due to his anti-America policies.”

Nikki Haley, the former U.S. ambassador to the United Nations, said a corporate bailout should be off the table.

“Taxpayers should absolutely not bail out Silicon Valley Bank,” she tweeted. “Private investors can purchase the bank and its assets. It is not the responsibility of the American taxpayer to step in. The era of big government and corporate bailouts must end.”

Another comment made by Treasury Secretary Janet Yellen”We’re not going to do that again,” Yellen said, referring to bailouts. “But we are concerned about depositors, and we’re focused on trying to meet their needs.”

“I’ve been working all weekend with our banking regulators to design appropriate policies to address this situation,” she said. “I can’t really provide further details at this time, but I really want to emphasize that the American banking system is really safe and well capitalized. It’s resilient.”

The Patriot’s Tribune is a news media agency located in Los Angeles, California.
We are a group of industry veterans with collective experience and news/media journalling experience of over 15 years. We are committed to fair reporting & getting our listeners the truth and we strongly support a free America.

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