Its downfall was the second-largest bank failure of all time and the most significant since the US economy was in the midst of the Great Recession in 2009

Biden defends stability of US banking system after Silicon Valley Bank’s stunning collapse

By News on the Net -- New York Post——Bio and Archives--March 13, 2023

President Biden defended the stability of the US banking system on Monday morning after the stunning collapse of Silicon Valley Bank sparked fears of a major economic crisis.

“Thanks to the quick action of my administration over the last few days, Americans can have confidence that the banking system is safe,” Biden said. “Your deposits will be there when you need them.” ---More...

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News on the Net——Bio and Archives

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