Skip to main content

Avoiding the ‘B-word’: is the US response to SVB’s collapse a bailout?

Given the antipathy towards Wall Street bailouts in the 2008 crisis, Biden is at pains to stress that ‘no losses’ will be borne by taxpayers

When is a bailout not a bailout? It’s a question many people are asking after the dramatic collapse of Silicon Valley Bank and the US’s decision to rescue depositors on Sunday.

Joe Biden, elected and appointed officials all insist the emergency interventions to protect deposits in Silicon Valley Bank, Signature Bank, a second bank that failed on the weekend, or, indeed, any further bank failures, won’t come at taxpayers’ expense.

Continue reading...

from The Guardian https://ift.tt/giI2MYB
Labels:

Comments

Post a Comment

Popular posts from this blog

Details of F.B.I.’s Kavanaugh Inquiry Show Its Restricted Range

By MICHAEL D. SHEAR, SHERYL GAY STOLBERG, MAGGIE HABERMAN and MICHAEL S. SCHMIDT from NYT U.S. https://ift.tt/2QhwZyw
Post a Comment
Read more

The Guardian view on Labour’s difficult year: denial of hard choices is no longer an option | Editorial

All the incentives in Westminster politics militate against confronting difficult issues, but a failing government may as well try honesty The formula for stable government, according to Britain’s constitution, is a big parliamentary majority and divided opposition. Sir Keir Starmer’s predicament proves that those conditions are not sufficient. The prime minister’s inability to convince voters that he has an agenda for national renewal, and the demoralising effect that has had on the Labour party, make a leadership challenge look plausible after local elections next May. Maybe sooner. Continue reading... from The Guardian https://ift.tt/JQljg0U
Post a Comment
Read more