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Bank Collapses: Yes, It’s a Taxpayer Bailout

US president Joe Biden “stresses that Silicon Valley Bank is not getting a bailout,” The Hill reported on March 13. “[N]o losses will be borne by the taxpayers,” he said of the federal government’s decision to cover deposi…

US president Joe Biden “stresses that Silicon Valley Bank is not getting a bailout,” The Hill reported on March 13. “[N]o losses will be borne by the taxpayers,” he said of the federal government’s decision to cover depositor losses in excess of  $250,000.  “Instead, the money will come from the fees that banks pay into the More

The post Bank Collapses: Yes, It’s a Taxpayer Bailout appeared first on CounterPunch.org.


This content originally appeared on CounterPunch.org and was authored by Thomas Knapp.


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