On 3/13/2023, Joe Biden blamed Donald Trump for the recent bank failures and broadening contagion. Silicon Valley Bank and Signature Bank collapsed over the weekend. Silicon Valley Bank is the largest bank to fail since the 2008 liquidity crisis. Biden blamed Trump and threatened to go after those responsible: “In my Administration, no one is above the law.” “During the Obama-Biden Administration, we placed tough requirements on banks to make sure the crisis we saw in 2008 wouldn’t happen again,” Biden said. “Unfortunately, my predecessor rolled some of those back,” he said.
Joe Biden and Democrats in Congress created the inflation crisis by spending more than $6 trillion in a couple years. Inflation hit 40-year highs because of Joe Biden. Enter the Federal Reserve… Federal Reserve Chairman Jerome Powell raised rates seven times in 2022 for a total of 450 basis points – or 4.5% to hedge inflation. The sudden and dramatic rate hikes crushed the bankers. Jerome Powell knew exactly what he was doing. Silicon Valley Bank reportedly held $173 billion in deposits. The Fed interest rate is at 4.57% and $117 billion of Silicon Valley Bank securities are yielding only 1.56-1.66% – this caused a run on the bank. By Friday Silicon Valley Bank was in FDIC receivership. But Joe Biden is blaming Trump!
Biden mumbled for a few minutes on Monday and walked away without taking any questions.
3/13/2023, Joe Biden traveled to San Diego to meet with the British and Australian Prime Ministers to discuss the submarine deal. Biden arrived in San Diego after he mumbled through remarks and tried to reassure the public that ‘the banking system is safe’ after Silicon Valley Bank and Signature Bank collapsed. Biden’s daughter (and husband) Ashley Biden joined Joe in San Diego. Biden delivered remarks on the Australia-United Kingdom-United States partnership from Naval Base Point Loma.
“The meeting was scheduled so the leaders can discuss the Australia-United Kingdom-United States partnership known as AUKUS, the White House announced, and is expected to outline how Australia will acquire up to five nuclear-powered submarines from the United States as part of the agreement, according to the White House. Biden will also participate in bilateral meetings with Sunak and Albanese.” NBC San Diego reported.
At one point Joe Biden shouted at Navy personnel and said, “I’m their commander-in-Chief, right?”
Joe Biden, Reading From His Giant Teleprompter, Once Again Makes Absolutely No Sense.
Biden Walks Away When Asked About Ripple Effect After Massive Silicon Valley Bank Failure.
Joe Biden Brags About Economic Progress Even As Prices For Everything Are Up Under His Admin.
Biden Says Take-Home Pay For Workers Is Going Up, But Inflation Has Outpaced Wages For 22 Months.
No Word On When (Or If) Biden Will Visit East Palestine, Ohio — 35 Days After Toxic Train Disaster
On 3/10/2023, a reporter asked White House Press Secretary Karine Jean-Pierre, “Democrats now are joining the calls for President Biden to go to East Palestine. He has said he plans to go. What are the plans for him to go? Why hasn’t he gone yet?
MS. JEAN-PIERRE: So, I’ve been asked this question multiple times, as you know, Kristen.
Look, the President, when — when … I don’t have a — I don’t have a trip to announce at this time. Again, this has been a priority for the President.
Reporter: Understood. But now —
MS. JEAN-PIERRE: Southern, pardon me.
Reporter: — all of th- — now that all of that is in place, Democrats are saying it’s time for him to get down there.
MS. JEAN-PIERRE: And he said, when he was asked the question, that he will be there.
Reporter: Will it happen (inaudible)?
MS. JEAN-PIERRE: I don’t have a timeline for you.
Doocy: Director Young, do you think there is any wasteful government spending?
DIRECTOR YOUNG: Peter, this is why we have $1.6 billion to go after fraud … that is a difference from the last administration, who fired some of our IGs …
Doocy: So no — the criticism from Republicans in Congress is that this budget just makes the government too big. You don’t think so?
DIRECTOR YOUNG: We would not have a $1.6 billion proposal to go after fraud and waste and crime syndicates …
other clips of this published longer video is here: https://youtu.be/152T_DaDUg8
Biden blamed Trump for bank failures. After 35 days, No Word On When Biden Will Visit East Palestine