Biden stresses taxpayer funds won’t be used in Silicon Valley Bank collapse – as it happened
by Chris Stein from US news | The Guardian on (#69R9K)
President reassures Americans banking system is safe' as US government announces plans to stabilize situation
Republicans reacted to Silicon Valley Bank's collapse by avoiding the question of regulation and instead pointing their fingers elsewhere.
Tim Scott, the top GOP lawmaker on the Senate Banking Committee, implied in a statement that the intervention could make financial institutions believe the government will bail them out, no matter what:
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