Opinion | Congress must hold to account those responsible for Silicon Valley Bank collapse WashTimesOpEd
, the nation’s 10th-largest, the financial policy chickens of this and previous administrations have predictably come home to roost. Record debt, massive new spending, and the failure of regulators to see what was coming contributed to the run on the bank.
Naturally, President Biden is taking credit for saving the depositors’ money. Even those with deposits over the limit of federal insurance will be saved. Mr. Biden is now claiming to be Mighty Mouse. He’s come to save the day: “Thanks to the quick action of my administration over the past few days, Americans can have confidence that the banking system is safe. Your deposits will be there when you need them.
It appears this did not happen. Congress should invite those responsible to testify about why nothing was done.
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