Posted on 03/13/2023 9:50:15 AM PDT by Olog-hai
President Joe Biden insisted Monday that the nation’s banking system was safe, seeking to project calm after the collapse of two banks stirred fears of a broader upheaval and prompted regulators to offer emergency loans to banks to stave off additional failures.
“Your deposits will be there when you need them,” Biden said.
Despite the message from the White House, investors continued to dump shares in bank stocks. Shares of First Republic Bank plunged more than 70% even after the bank said it was accessing emergency funding from the Federal Reserve as well as additional funds from JPMorgan Chase. […]
Speaking from the White House shortly before a trip to the West Coast, the president said he would seek to hold those responsible accountable, and he pressed for better oversight and regulation of larger banks. He promised that no losses would be borne by taxpayers. “We must get the full accounting of what happened,” he said. “Americans can have confidence that the banking system is safe.”
Biden also said the managers of the banks should be fired. …
(Excerpt) Read more at apnews.com ...
That’s Biden speak for your f****d.
Just like hussein obama and the rest of the lefty barrel of snakes......whatever they say your more than likely safe in believing the opposite.
BS the tax payers will not pay for this! After they charge new fees to all banks to cover the losses; what does he think the banks will do? Pass on the new fees to their customers (tax payers)!
I'll guarantee you that those with uninsured (over $250K) deposits will be splitting them between banks today. Some smaller regionals may not survive that. FRC is in huge trouble right now...
FJB and his merry band of vile monkeys....
The only things that are certain about Biden is that he’ll make the situation worse for the nation and he’ll lie about it. Guaranteed. For him, a solution means enriching a special interest group to the detriment of the rest of us.
That’s Biden-speak for “you’re f****d!”
Life would not be complete if not for the spelling/grammar police.
If this treasonous bastard told me water is wet, I’d question the veracity of the statement.
What Biden does is lie all the time because he is a figurehead puppet who makes no decisions and whatever he says has been written for him except when he goes off-script.
So says the biggest liar in the country.
And of course the obligatory shot at Trump:
“During the Obama-Biden administration, we put in place tough requirements on banks, like Silicon Valley Bank and Signature Bank, including the Dodd-Frank law, to make sure that a crisis we saw in 2008 would not happen again,” Biden said, referring to the 2010 financial overhaul law.
“Unfortunately, the last administration rolled back some of these requirements. I’m going to ask Congress and the banking regulators to strengthen the rules for banks to make it less likely this kind of bank failure would happen again.”
The you’re/your substituion is like fingernails on a chalkboard for those who had it pounded into us by some teacher(s) along the way.
Hahahahahahahahahahahahahahahahahahahahahaha.
Fool me once, shame on you.
Fool me 756 times, shame on me.
Isn’t it great we have a lying dementia ridden moron in the Presidency when the financial structures are on the brink of a meltdown. Thank you rats and GOPe for stealing Trump’s 2nd term.
Isn’t it great we have a lying dementia ridden moron in the Presidency when the financial structures are on the brink of a meltdown. Thank you rats and GOPe for stealing Trump’s 2nd term.
How many federal and state agencies are entrusted with monitoring the health of players in the financial industry so things like this don’t happen? Just asking for a friend.
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