Biden Admin: No Bailout for Collapsed Silicon Valley Bank; Silicon Valley Venture Capitalists Scream for a Bail Out in Reaction to Bank Collapse

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No Bailout for Collapsed Silicon Valley Bank, Yellen Says

By Daily Wire. Treasury Secretary Janet Yellen said Sunday that there would be no bailout for the collapsed Silicon Valley Bank.

Appearing on CBS News’s “Face The Nation” with host Margaret Brennan, Yellen said the government would assist regulators in helping protect depositors but made clear that there would be no federal bailout for the major tech bank.

“Let me be clear that during the financial crisis, there were investors and owners of systemic large banks that were bailed out,” Yellen told Brennan when asked whether the U.S. had ruled out a bailout. “And the reforms that have been put in place means that we’re not going to do that again. But we are concerned about depositors and are focused on trying to meet their needs.”

Brennan noted that roughly 85% of the accounts were uninsured and asked Yellen whether she thought depositors should be paid back in full. (Read more from “No Bailout for Collapsed Silicon Valley Bank, Yellen Says” HERE)

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Silicon Valley Venture Capitalists Scream for a Bail Out in Reaction to Bank Collapse

By Breitbart. Silicon Valley venture capitalists are screaming for a bail out in response to the recent sudden collapse of Silicon Valley Bank — the second-largest bank failure in history, behind the collapse of Washington Mutual at the height of the 2008 financial crisis.

“YOU SHOULD BE ABSOLUTELY TERRIFIED RIGHT NOW — THAT IS THE PROPER REACTION TO A BANK RUN & CONTAGION @POTUS & @SecYellen MUST GET ON TV TOMORROW AND GUARANTEE ALL DEPOSITS UP TO $10M OR THIS WILL SPIRAL INTO CHAOS,” entrepreneur Jason Calacanis exclaimed.

Entrepreneur Joe Lonsdale insisted that he is “opposed to bail outs,” but nonetheless flirted with the idea of one for the Silicon Valley Bank, tweeting, “Am curious if the innovation world is the only part of our economy that doesn’t deserve a depositor bailout?”

“And can’t help but ask how many equivalent aid packages to Ukraine (0.5 of them?) it takes to resolve the crisis impacting thousands of promising US technology companies,” he added.

(Read more from “Silicon Valley Venture Capitalists Scream for a Bail Out in Reaction to Bank Collapse” HERE)

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