In the wake of the collapse of Silicon Valley Bank, the Biden administration has taken the extraodinary step of guaranteeing all the bank’s deposits — even those well above and beyond the $250,000 limit guaranteed by the government’s Federal Deposit Insurance Corporation. The blame game on the bank’s failure is well underway, with Democrats pointing fingers at Donald Trump, but many Democrats went along with the 2018 deregulations that the GOP-led Congress passed.
Jimmy talks and Americans’ Comedian Kurt Metzger discuss this latest episode of government intervention in the U.S. banking system.
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In a recent press conference, President Joe Biden raised eyebrows when he seemingly avoided answering questions about the controversial bank bailouts. As reporters eagerly sought answers on the matter, Biden’s response left many wondering if he was trying to evade the topic altogether.
Biden’s reluctance to address the issue is surprising given his promises of transparency and accountability during his electoral campaign. The bank bailouts, enacted in response to the 2008 financial crisis, have long been a subject of public scrutiny and criticism. Many argue that these bailouts favored big banks at the expense of everyday Americans, thus exacerbating income inequality.
Reporters attending the press conference sought clarification from the President regarding his stance on this contentious topic. However, Biden’s responses were brief and evasive, which only fueled speculations about his true position on the matter. Some journalists accused him of sidestepping the issue and failing to provide a clear answer to a significant concern raised by the American public.
Critics argue that these evasive tactics are reminiscent of the lack of transparency seen during previous administrations. They argue that avoiding questions on the bank bailouts only further erodes trust in the government and raises doubts about the President’s commitment to fulfilling his campaign promises.
Moreover, the bank bailouts are not merely a financial concern; they have broader implications for the American public. The economic crisis that spurred these bailouts had a lasting impact on millions of Americans who lost their jobs, homes, and savings. Many still feel the consequences of that crisis today. Therefore, it is crucial for the President to provide a clear, comprehensive response that addresses the concerns of the American people.
Transparency and accountability are cornerstones of a healthy democracy, and as the leader of the nation, Biden should demonstrate these qualities by answering journalists’ questions honestly and openly. The American people have a right to know where the President stands on important issues, especially those tied to the financial well-being of everyday citizens.
Some argue that Biden’s sidestepping of the bank bailout issue may stem from concerns about the potential political fallout. Acknowledging the flaws in the bailouts might invite criticism from those who believe the actions taken were necessary. However, avoiding difficult questions about past decisions only serves to perpetuate a lack of trust in the government.
In today’s interconnected world, where information is readily available, it is increasingly important for public figures to be transparent and responsive to public concerns. The President has a duty to address the press, and through them, the American people, with honesty and clarity. Evading reporters’ questions about the bank bailouts not only erodes trust but also undermines the very foundations of democracy.
The American public deserves leaders who are willing to face the tough questions head-on, admit mistakes, and engage in open dialogue. Only through open and honest conversations can progress be made, and the wounds of the past be healed. It is high time for President Biden to shed light on the bank bailout issue and restore faith in his commitment to transparency and accountability.
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Because it wasn't the real Biden. Look at his hands and how he walked
What happened to being transparent?! The man just keeps lieing.. you should here what he's said back in the day about jungle schools and gay folks !!!! He's disgusting for sure!!
His ice cream was calling
There is nothing funny about this more like embarrassing . H is the supposably most powerful leader of the world when effect he is just a marionette and people in the background are pulling the strings . He is 80 years old and is possible at the end of his life anyway yet he has the ability to start a nuclear war . Is there anything more dangeres and concerning than this ? I for ones
don't think it is a laughing matter .
Joe Biden is just a weekend at Bernie's
This is the leader of the free world!
Unless your Paul Pelosi
so … is my understanding that president Biden want to run again for office …
Who votes for these monsters?
Israel pulled a billion dollars out of SVB shortly before the collapse.
Next we’ll be ask to donate to help out
Get Max Keiser on again.
Everyday they are daring us to do something to stop them, and there isn’t a thing we can do.
Socialist Progressive Democrats killing this Country. Term limits for both Parties.
I wish it was funny but about HALF of all AMERICANS are screwed and no way to nor go homeless because of DRUMPH NOT TRUMP Biden bush and all committing TREASON on capital hill SOLICITING BRIBES for decades
You mean jews. Not the rich just the rich jews.
“We live in an oligarchy. And that’s why things will NEVER CHANGE until we get people in the streets.” In 30 seconds Dore reminded me of why I stopped watching and tuned out politics because this system will never change. Thank you for helping me wake up Dore you will FOREVER be an idol. But this system is TOO DEPRESSING to deal with. Good luck during the 2024 Depression we normal poor folk are gonna need it.
Nothing was done.. but to try and jail a guy.. when every ones money that was put into bit coin was used as a donation to the democrats.. but that it does when the banks donate more to the democrats.. because they own them, as Obama showed they did.
He's a great communicator
The latest nationwide poll says Biden is sinking and is currently at 41% approval (with the media ON HIS SIDE).
Why..? Oh yeah, he sucks at being president.
China money too ?? For the Big guy
LMAO American banks collapsing, Russian economy flourishing. Biden ftw.
His BUTTS BEEN WIPED AGAIN. BUT HIS COMMUNIST HOLDINGS ARE SAFE , OR MAYBE NOT ????
Trump is at fault? It was Biden's inflation that caused the banks collateral to loose value, which kicked off Silicon Valley Bank's problem. Even Bernie Frank co-author of the Dodd Frank regulation said that Trump's action didn't bring this about. Democrats are printing money so that they can spend it on their pet projects, and it's causing inflation. That inflation is destabilizing the credit of the US government. So when banks bet on the government bonds; and then the government devalues those bonds, who is to blame?
Put president houseplant back in the window sill. He’s wilting
They keep emphasizing the FDIC policies which will protect your accounts up to $250k, but what they don't tell you is that the value of the dollar will plummet so your 250k today is worth about 100k.
Banks always pass the fees down to their "customers" so no matter how you slice it, we will pay for it.
This system is geared towards profitability, not stability.
Which is insane when banking is the foundation of your entire financial system.
It should be boring and stable. Like the foundation of your house.
Capitalism is a word synonymous to "GREED".
81 million people voted for this .
"They had two hundred and nine billion dollars and somehow they failed capitalism!" Hahaha this is the sort of quick shot that is the cherry-on-top of the finely baked cake that is Jimmy Dore. Now I realise it, yes, baked is a pun. Enjoy 😀 Love all you guys and how you make this deplorable shit easier to take in.
There are no homeless people here, only houseless people (c) George Carlin
HE TURNED HIS BACK ON THE AMERICAN PEOPLE THE SAME WAY! THIS IS A LEADER? DON'T THINK SO!
And that’s the President of the United States! I’m shocked!