SVB Bank Collapse - Watch LIVE Pres. Biden delivers remarks on Silicon Valley Bank collapse

#SVB #siliconvalleybank #biden #fed #economy #signaturebank

President Joe Biden spoke Monday morning in an effort to reassure Americans after federal agencies stepped in following the failures of Silicone Valley Bank and Signature Bank.

[itachiofthesharingan]

I thought the sanctions was supposed to do this to Russia not the U.S. 🤣🤣🤣

[rileymod]

Best part of this speech was he actually found the exit door by himself.

[oli]

He just quickly said all that and just ignored the questions while walking away

[MrBeast-]

The Banks are paying for this - but we pay for the banks.... so we are paying for this!!!

[Mike-bvyf]

His biggest challenge was leaving the room properly.

[BlackandBluefins]

Not answering any questions certainly helps with my confidence!

[rulysumitro]

I won’t be surprised if there’s more banks following SVB

[polyglot]

Investors MUST PAY for this. Every time there is a hurracaine my insurance goes up.

[uwerichter]

Usually you make speaches like this to avoid bank runs. But sure, this time is different 🤣

[jonp]

Can we trust this guy that all will be okay, with his financial and economic expertise and experience?

[AP-hnwd]

Unless bankers actually face prison time, this will continue to happen in the foreseeable future. It’s just another day another coat of business.

[Paul-lihq]

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 🤪"

[Trustedimp]

Don´t panic people! You have nothing to be afraid of! Nothing! Everything is going great!

[joachimlindback]

They will fire every bank manager and never realize that the problem is clueless central planners. Print money, sell long term bonds, raise rates fast and blame the victims.

[qnzhpwm]

This was a failure of the banks management. You don't have to be a genius to know that interest rates couldn't be kept near zero forever. This is their fault and no one else's. As far as large investors are concerned they rolled the dice hoping for a big payoff and lost. The FDIC did the right thing.

[frankpark]

0% reserve requirements
Stimulus packages
Close to 0% federal interest rates
2000 bail out
2008 bail out

The government is responsible for this

[honkhonkler]

In other words, you can be sure that more banks will follow.

[BobMuskFan]

Can anyone explain how come Russian banks didn't crash after all sanctions and frozen assets but American banks are crashing for no apparent reason? Wtf happened?

[qinfugu]

everything is safe before collapsing！😄

[devengreen]

In the words of Mimir, "If he says the grass is green he's lying".