And a pretty good President, too!
President Obama and I put in place tough requirements on banks to make sure the 2008 crisis wouldn’t happen again.
The last Administration rolled many of them back.
Americans should have confidence that our banking system is safe, and we're taking action to make it stronger. pic.twitter.com/F3hnWl6L8K
— President Biden (@POTUS) March 13, 2023
Summary of Biden remarks on SVB:
– US 'can have confidence' in banks safety
– SVB deposits 'will be there'
– Taxpayers will not cover the 'losses'
– Asking Congress 'to strengthen' regulations
– Rescued bank management fired
– 'We must get the full accounting of what happened'
— Sebastian Smith (@SebastianAFP) March 13, 2023
Wall Street lobbyists and Republicans in Congress are pushing Fed Chair Powell for weak capital requirements at exactly the wrong time. Silicon Valley Bank's collapse underscores the need for strong rules to protect the financial system. Regulators must not buckle to pressure.
— Elizabeth Warren (@SenWarren) March 10, 2023
A McConnell aide says timing at rehab facility could be 1-2 weeks
“That decision will be made by the Leader’s physicians and the therapists. It is very common to undergo physical therapy to regain strength after a hospital stay and this ranges anywhere from a week to two weeks.”
— Manu Raju (@mkraju) March 13, 2023