President Biden is telling Americans the banking system is sound despite the high-profile failure of Silicon Valley Bank and several others. CBS News senior White House and political correspondent Ed O’Keefe joins John Dickerson on “Prime Time” with more.
#news #biden #siliconvalleybank
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LEARN MORE ABOUT: Bank Failures
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In the wake of recent bank failures, President Joe Biden has reassured Americans that their deposits are safe. With the collapse of several small banks in different parts of the country, many customers who had trusted their hard-earned money with these institutions are understandably anxious.
Biden, in response to concerns raised by Americans, put out a statement that said “I want to assure every American that your deposits are safe and secure. You can have confidence in the FDIC insurance protection that covers your deposits up to $250,000 per depositor.”
The statement highlights the importance of the Federal Deposit Insurance Corporation, a United States government agency that provides insurance coverage for deposits in banks and savings associations. FDIC coverage provides important protection to depositors, as it guarantees their deposits up to a certain amount even if the bank fails. This coverage also reduces the risks of bank runs and protects the economy as a whole.
Biden’s statement is a reassuring message to Americans who may be worried about the safety of their hard-earned money in the face of bank failures. The president has done well in quickly addressing the concerns of the public and reminding Americans of the safety measures in place to protect their deposits.
As with all financial transactions, consumers should also educate themselves and do their due diligence when choosing banks to do business with. Checking the financial health of prospective banks, ensuring that they are properly insured by the FDIC, and regularly reviewing their account statements can help reduce the risk of fraud and other financial crimes.
In summary, Biden’s reassurance to Americans regarding the safety of their deposits is an important message that will help reduce the anxiety and uncertainty that arises from bank failures. The FDIC insurance program is an essential safety net that provides protection for consumers and ensures the stability of the financial system. Consumers also need to do their part in protecting their finances and remaining vigilant to potential threats to their deposits.
Is this high confidence or low confidence when the president walked away right after reading the teleprompter? He'll never be able to answer any question without making himself look horrible.
And of course the CIO and others that took or sold their share before the collapse they get to keep their money to but if it were middle class citizens the FBI would raid your house and put you in jail.
Biden is going to bail out millionaires and billionaires instead of taxing them
Pull your money , this guy is a world joke along with his media.
Since 1933, the US economy has grown at an annual average rate of 4.6% under Democratic presidents and 2.4% under Republicans. During Trump's tenure, the US economy contracted 3.5% – the fastest rate since 1946. GDP growth was the worst since the Great Depression. The national debt increased 39 percent. The annual deficit under Trump ranks as the second highest of any president in history. Trump was the worst jobs president in recorded history. The Dow had the largest single-day stock market drops in the history of Dow Jones.
https://www.youtube.com/watch?v=e2HvetIkdLk CBS LIES
This is just the beginning of another disaster that American taxpayers will bail out yet again and I don't trust a single word he says mostly because he doesn't even know what he just said.
Billionaires bailed out by Biden. What else is new.
Biden lies, and corrupt media spreads them.
I feel confident that we will get to help pay for this somehow.
No one is buying it. We all know this is the beginning of a collapse not the end.
It’s time for a new government and a fair economic system, one not owned by the rich.
:The war against Russian aggression has been going on in Europe for 9 years. The victory in the war of the Western countries and Ukraine against Russia's aggression is its fulfillment of 5 (five) requirements in full: 1) Reimbursement to the Western countries of the costs of assistance to the victim of aggression-Ukraine. 2) Ensure the capture of all Russian war criminals (more than 40,000 suspects); 3) compensation for all victims of the war (hundreds of thousands killed); 4) financing the full restoration of the victim of aggression – Ukraine; 5) Exclusion of the threat to Peace from the terrorist Russia (its demilitarization and deimperialization). All this is possible only in the case of the complete unconditional SURRENDER of the terrorist of Russia, as it was with Hitler's Germany. The refusal of the Western countries from victory (from the surrender of the terrorist of Russia) will plunge the World into chaos — on the example of the terrorist of Russia, endless wars and crises.Impunity breeds new crimes. The disappearance of the aggressive regime in Russia is beneficial to everyone. In Russia, Russians have enough money and resources for everything and for everyone.:
It's the R*E*S*E*T.! We will have nothing & be happy!!! A,m,e,r,I,c,a the land of the lost……
Prison time and hang
Stop. Not go..
Trump rolled back The Dodd-Frank Act – which partly caused the SCB Bank Collapse
I wish to get all my money from banks just for case
What a miserable excuse for a human being. LET'S GO BRANDON!
Cola is 30.00 per month NOT 3,000. Not 300.
Housing prices went too high and the mortgage rate is also too high minimum wages people including me our dreams never will be true in our life by buying a house. That's why banks are closed.
Time to leave the room when the teleprompter gets turned off.
fraud
From the people who claimed “Inflation was transitory” comes: “Our financial system is safe”…
I don’t believe Biden Too many lies he told
FJB
Hey! This is no big deal, as long as we have "diversity."
Blue or Red THEY own us all
i don't understand some comedians
it's dumb humor