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Watch: President Joe Biden responds to Silicon Valley Bank collapse | USA TODAY

March 15, 2023
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President Biden delivers remarks on the collapse of Silicon Valley Financial institution after Treasury Sec. Yellen promised there could be no bailout.

RELATED: Fed Chair Jerome Powell seems earlier than Senate Banking Committee

Federal regulators stated Sunday they have been taking steps to make sure that depositors of the failed Silicon Valley Financial institution could have entry to all their cash on Monday. The Federal Reserve, the Treasury Division and the Federal Deposit Insurance coverage Company introduced that the financial institution’s troubles posed a systemic danger to the monetary system, permitting regulators to take the weird step of guaranteeing the deposits.

ā€œThis step will make sure that the U.S. banking system continues to carry out its important roles of defending deposits and offering entry to credit score to households and companies in a fashion that promotes robust and sustainable financial progress,ā€ the businesses stated in a joint assertion. The regulators additionally stated they have been taking up a second failing monetary establishment, Signature Financial institution of New York, and equally designating it as posing a systemic danger and stating the federal businesses would backstop its deposits.

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Tags: Bankbank collapseBidenbiden livebiden live streambiden remarksbiden silicon valley bankbiden silicon valley bank livebiden speechbiden svb livebreaking news todaybreaking news ukbreaking news usa todayCollapsefinancial collapsefinancial newsfinancial news todayJoejoe biden silicon valley bankjoe biden silicon valley bank livejoe biden speechjoe biden speech livejoe biden svb livelatest news todaylive streampolitical newspolitical news todayPresidentpresident bidenrespondsSiliconsilicon valleysilicon valley banksports newsSVBTODAYUSAusa todayusa today newsValleyWatchwhite housewhite house live streamwhite house news
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Comments 37

  1. Johnny Utah says:
    2 weeks ago

    Biden….. best US President since 2016. šŸ‡ŗšŸ‡²

    Reply
  2. K N says:
    2 weeks ago

    FJB! HES A FLAT OUT LIAR! SMOKE & MIRRORS! THE TAX PAYER GETS KILLED AGAIN & THE SICK FCKIN BILLIONAIRES OF SV MAKE OUT AGAIN! F THEM ALL!

    Reply
  3. Jeff Stewart says:
    2 weeks ago

    Biden is a liar, these banks failed in large measure because they bought US treasuries that yielded just 2% a year or two ago, and now new issued treasuries due to record inflation yield 6%. As investors wanted to pull money out, these banks had to sell their 2% US treasuries at a big discount or loss…and became insolvent. There has never been a time in history when the Fed has printed so much money (many trillions) out of thin air and now driven inflation up at record speeds. Biden's printing money policies directly caused these bank collapses and now he is using these bank managers as "scapegoats" for his failure. Biden doesn't go onto explain that the Fed had to come up with a new policy over the weekend to allow all Banks to get full face value on their US treasuries from the Fed instead of selling them at a loss on the open market as these failed banks had to do. Without that change, the whole banking system was threatened to collapse and he knows it. That is the investigation you will never hear, but is true. Biden is the one that needs to be FIRED, not bank managers.

    Reply
  4. mark thurst says:
    2 weeks ago

    I hope I get to see some democrats starving in the streets soon.

    Reply
  5. nathaniel guizar says:
    2 weeks ago

    Let’s go Brandon

    Reply
  6. nathaniel guizar says:
    2 weeks ago

    Lol just not confidence in your president to be able to annunciate his words.

    Reply
  7. nathaniel guizar says:
    2 weeks ago

    No one above the law except for me and my son hunter. But everyone else can be charged

    Reply
  8. Carlos Castro says:
    2 weeks ago

    šŸ˜‚

    Reply
  9. Anthony Wayne says:
    2 weeks ago

    a disaster! he is blaming someone else again! we are in trouble!

    Reply
  10. agent x channel says:
    2 weeks ago

    Republicans weakened financial safety regulations = THIS.

    Reply
  11. Jose Conti says:
    2 weeks ago

    Pure manipulationthe the world is as it is thanks to this demon

    Reply
  12. takakeshi kone says:
    2 weeks ago

    I didn't hear the hyenas today they must to had the day off. Thank you, thank you, that's it everybody, thank you, thank you, please leave.

    Reply
  13. xanvavy says:
    2 weeks ago

    Fu$%ing lier! They crash banks on purpose and steal our money. Where did the money go? Ftx was a test to see how we would react to something like this. Every x amount of time they crash the system forcing us to rebuild our lives while they enjoy our money. Wake up America! You are being taken for a sucker!

    Reply
  14. Andre Hunter says:
    2 weeks ago

    I always get more understanding when he answered journalist's question , really glad he is not only reading some manus fast from screen.
    Thanks, understand everything now 😊 very informative answers šŸ‘

    Reply
  15. Shaun says:
    2 weeks ago

    Real footage of January 6th coming out, quick hurry up and collapse a few banks we need a distraction.

    Reply
  16. Lola Walsh says:
    2 weeks ago

    Impeach. If we would take a risk as individual taxpayers, will Biden pay off our bank noes. This is USA not Venezuela!!!!.

    Reply
  17. Raheem says:
    2 weeks ago

    I love the grounded reality of this channel!! Despite the recession, I’m so happy withdrawing my $78k profits out of my investment with a platform in town

    Reply
  18. Isa Conner says:
    2 weeks ago

    If Biden President, Bails these Banks, the American people will Pay for the BAIL Out, this is because of your INFLATION Biden, you created the the Worst Inflation in 41 years, and spent money our Country didn't have!!! You are a disaster Biden!!!!! ALL your FAULT, if Biden Bails the Banks out, we the American people will pay for, all thanks to you Biden, the Worst President in History…….

    Reply
  19. One Man says:
    2 weeks ago

    Tonight it was known that dozens more banks in our country were facing bankruptcy. However, the authorities hide this fact, as panic among citizens will cause capital outflow and this will accelerate bankruptcy. Today, the state is not able to pay compensation to all citizens of these banks. I do not want anyone to suffer from such an act of our authorities. Make sure you get your savings.

    Reply
  20. Dorian Gray says:
    2 weeks ago

    Who could have ever imagined that tax the rich Joe and the Democrats would be bailing out the rich.

    Reply
  21. Altair olp says:
    2 weeks ago

    Again, we the poor saving the rich.

    Reply
  22. john doe says:
    2 weeks ago

    Bimbo Biden, has made a career with foreign governments for the 10%. He not a real President, and he doesn't work for America. Please Disregard this statement, from our severely incompetent President….

    Reply
  23. Jean Jones says:
    2 weeks ago

    This is what happens when you leave democrats unsupervised! When Joe comes out and says not to worry, that's when it's time to worry…

    Reply
  24. john whitt says:
    2 weeks ago

    This is what happens when you have a fake president

    Reply
  25. Тимофей Тимофеев says:
    2 weeks ago

    The US is transferring nuclear submarines to Australia. This is good. Russia can now sell nuclear submarines to Argentina, Brazil, Venezuela, Cuba, Nicaragua, South Africa, Iran, North Korea.

    Reply
  26. Dragonfly Acrylics says:
    2 weeks ago

    YOU SHOULD BE FIRED

    Reply
  27. Dragonfly Acrylics says:
    2 weeks ago

    Ummm people RETURNING to their jobs post the plandemic IS NOT JOB CREATION…PLEASE STATE THE REAL NUMBERS

    Reply
  28. kay o'brien says:
    2 weeks ago

    Biden = THE PRESIDENTIAL DISASTER!!!

    Reply
  29. Eric Kriebel says:
    2 weeks ago

    Afghanistan border inflation gas prices interest rate now the banks are failing thank you President Biden you get going on it and I'm sure you can bring us down what next?

    Reply
  30. coolguy007171 says:
    2 weeks ago

    I never believe in politicians. I took out all my hard earned savings from my bank yesterday just to be safe.

    Reply
  31. Marco Solo says:
    2 weeks ago

    JOes got a new book coming out,….."How to destroy a country in less than 4 years"

    Reply
  32. Marco Solo says:
    2 weeks ago

    You are a Joke Mr. President!

    Reply
  33. Gary says:
    2 weeks ago

    Why would anyone waste their time to listen to a habitual liar? Biden continues to fail this country.

    Reply
  34. Paul says:
    2 weeks ago

    Biden: "We've done everything necessary to make sure 2008 never happens again."

    The People: "But it IS happening again!"

    Biden: "This is different…"

    The People: "How is this different?!"

    Biden: "This is 2023… a totally different year… not 2008 at all 🤪"

    Reply
  35. Khan Cavit says:
    2 weeks ago

    Go home oldie

    Reply
  36. TheCatnfused says:
    2 weeks ago

    buy gold dont let trash paper in bank

    Reply
  37. Desiree Lee says:
    2 weeks ago

    This collapse is under his fake administration. If he cared so much for Americans he wouldn’t continually send money to Ukraine. This guys a complete clown

    Reply

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