Well, Joe Biden gave himself a big pat on the back this week after claiming that he did something wonderful by saving the money of hard-working people after their bank collapsed.
In reality, he didn’t actually do anything. This is what FDIC insurance does. It protects the money of failed banks. This took effect after the Great Depression to try and protect people from losing all of their money again.
On the flip side of the coin though, Biden is actually blaming President Trump for the banks failing.
“Your deposits will be there when you need them. Small businesses across the country that deposit accounts at these banks can breathe easier knowing they’ll be able to pay their workers and pay their bills,” Biden said. “And their hardworking employees can breathe easier as well.”
Biden said he was focused on reducing the risk of other financial institutions collapsing. “During the Obama-Biden administration, we put in place tough requirements on banks like Silicon Valley Bank and Signature Bank, including the Dodd-Frank law to make sure the crisis we saw in 2008 would not happen again,” he said. “Unfortunately, the last administration rolled back some of these requirements.”
But you know what, Trump is possibly the cause of at least one of the banks failing. I’m talking about Signature Bank and how they went woke and told President Trump that he couldn’t keep his money there.
But hey, maybe that was all for the best. Maybe they were going to squander it all away anyways by overleveraging their assets just like they did.
One thing that nobody is talking about though in regard to the Silicon Valley Bank failure is that while FDIC insurance is protecting people, it only protects them up to $250,000.
So, as long as their account has less than that, they’re okay.
The bad news is that more than 97% of the accounts at Silicon Valley Bank had more than $250,000 in them.
What’s Joe Biden going to do about that? They said that there won’t be any bailouts, so are they going to do anything about that money?
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Pardon my dumb question. If the ‘woke’ bank would not allow Trump to keep money in their bank, how is that bank failure Trump’s fault. Once again that guy in the funny shaped office inserted hoof in mouth!
Joe Biden will do nothing and blame every problem on Trump when the problem is happening under his administration not Trump’s. Biden never takes responsibility for anything negative and tries to take responsibility for the positive that he had nothing to do with it.
Biden lies and blames Trump for everything when things were so much better under Trump then now.
Joe, best stay out of the banking business. You have no idea how to run a bank.
Whatever you blame President Trump for is pure nonsense. You are just jealous.
He is way ahead of you. You could never catch up to him. You just don’t have the brains.
Stay in your basement, you are better off there.
Fuck you Communist Biden, you always blame the real President, President Trump for everything you and your Communist party do to destroy America and the banking system.
If that’s true then why didn’t the banks fail and Americans beginning to suffer under our great President Donald J. Trump.?
Your a worthless Traitorous Communist piece of shit just like your master the Anti-American Communist Satan worshipping Piece of shit Muslim Barack Hussein Obama.!!
Lying Corrupt Quid Pro KING Joe doesn’t own up to anything. It’s easier to blame Trump than to own up to it. Corrupt Quid Pro is the one that screwed up the economy.
One can bet that the depositor’s voted for corrupt Quid Pro. Corrupt Quid Pro has to bail out this bank. Silicon Valley is associated with Big Tech. Hoe owes them for running interference for Corrupt Quid Pro during the last presidential election.
You have to laugh at Biden to take credit for things that he didn’t do. Guess even he realizes he’s a loser. Haven’t even those who voted the Biden/Harris ticket realized they made a huge mistake by now?
The sad thing there are many in this country stupid enough to believe him.
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