President Biden
@POTUS
United States government official
At my direction, @SecYellen and my National Economic Council Director worked with banking regulators to address problems at Silicon Valley Bank and Signature Bank.
I’m pleased they reached a solution that protects workers, small businesses, taxpayers, and our financial system.
Quote Tweet
The New York Times
@nytimes
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2h
Breaking News: Federal officials closed a second bank and said it would bail out all depositors in the wake of Silicon Valley Bank’s collapse. https://nyti.ms/3JcMWD3
The American people and American businesses can have confidence that their bank deposits will be there when they need them.
I’m firmly committed to holding those responsible for this mess fully accountable and to continuing our efforts to strengthen oversight and regulation of larger banks so that we are not in this position again.
I’ll have more to say on this tomorrow morning.
8:48 PM · Mar 12, 2023
https://twitter.com/POTUS/status/1635080376572956672
https://twitter.com/POTUS/status/1635080378099662851
https://twitter.com/POTUS/status/1635080379509137409