{"id":1876179,"date":"2023-03-14T06:27:45","date_gmt":"2023-03-14T10:27:45","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/svb-collapse-biden-risks-renewed-economic-worries-and-anti-bailout-backlash\/"},"modified":"2023-03-14T06:33:06","modified_gmt":"2023-03-14T10:33:06","slug":"svb-collapse-biden-risks-renewed-economic-worries-and-anti-bailout-backlash","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/svb-collapse-biden-risks-renewed-economic-worries-and-anti-bailout-backlash\/","title":{"rendered":"SVB collapse: Biden risks renewed economic worries and anti-bailout backlash"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fsvb-collapse-biden-risks-renewed-economic-worries-and-anti-bailout-backlash%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1876179&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<div class=\"RichTextArticleBody-body\">\n<div class=\"Enhancement\">\n<div class=\"Enhancement-item\">\n<div id=\"Brid_78721831\" class=\"brid\" style=\"width:16;height:9\">                                                                                                         <\/div>\n<p> ||[]; _bp.push({ &#8220;div&#8221;: &#8220;Brid_78721831&#8221;, &#8220;obj&#8221;: {&#8220;id&#8221;:&#8221;27789&#8243;,&#8221;width&#8221;:&#8221;16&#8243;,&#8221;height&#8221;:&#8221;9&#8243;,&#8221;video&#8221;:&#8221;1261640&#8243;} });                              <\/p><\/div>\n<\/p><\/div>\n<p><a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/joe-biden\">President Joe Biden<\/a> The government is trying to reassure people who still remember the 2007-08 financial crises that the country went through. <a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/banks\">Banking system<\/a> Their deposits are secure.<\/p>\n<p>Although Republicans are quick to criticize the executives of the now-defunct, <a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/silicon-valley-bank\">Silicon Valley Bank<\/a> They are investigating Biden, who they believe contributed to the economic conditions that caused the institution&#8217;s collapse. <a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/budget\">Budget<\/a> And <a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/debt-ceiling\">debt ceiling<\/a> Standoff with the <a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/news\/white-house\">White House<\/a>.<\/p>\n<p><b><a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/news\/white-house\/biden-budget-deficits-debt-spending\">BIG SPENDER? DEFICIT CUTTER?? MIXED MESSAGE OF BIDEN ON THE BUDGET<\/a><\/b><\/p>\n<p>Biden and his Administration are &#8220;getting very good&#8221; According to Rep. Dan Meuser, R-PA), they were able to respond to crises and even helped to create them.<\/p>\n<p>&#8220;I wouldn&#8217;t say they completely caused this one, but the environment they created caused that,&#8221; He told the <i>Washington Examiner<\/i>.<\/p>\n<p>Meuser, an ex-businessman who represents Pennsylvania&#8217;s coal region from 2019 to 2019, is now on the <a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/house-financial-services-committee\">House Financial Services Committee<\/a>SVB&#8217;s investments having been devalued by, was cited.<a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/interest-rates\"> interest rate rises<\/a> Introduced to Counter <a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/inflation\">&#8220;Bidenflation&#8221;<\/a> The &#8220;root cause'&#8221; Shuttering of a technology-focused institution.<\/p>\n<p>&#8220;Secondly, there was no basic bank supervision,&#8221; He stated. &#8220;It&#8217;s just hard to understand when you have the [Office of the Comptroller of the Currency] and [Gary] Gensler at the <a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/sec\">[Securities and Exchange Commission]<\/a> spending all this time on what I think are illegal <a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/esg\">[environmental, social, and governance] enforcement mandates<\/a>, and when something like this occurs, you can&#8217;t help but think that they&#8217;ve got their eye off the ball.&#8221;<\/p>\n<p>Meuser said that he didn&#8217;t support more red tape but preferred the federal government to regulate him. &#8220;just enforce the regulations that currently exist.&#8221;<\/p>\n<p>Rep. John Rose (R.TN), another member of the House Financial Services Committee, compared empowering regulators. &#8220;allowing the arsonist to be a firefighter.&#8221;<\/p>\n<p>&#8220;To be clear, this is a bailout regardless of what the administration says,&#8221; He stated. &#8220;The [Federal] Deposit Insurance Fund is backed by the Treasury, which taxpayers fund. So the bottomless bailout Biden proposed this morning will surely be sponsored by Americans in one way or form.&#8221;<\/p>\n<p>Ralph Norman (R.S.C.) rejected Biden\u2019s claim that SVB\u2019s predicament was allowed by <a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/donald-trump\">Former President Donald Trump<\/a> The attempt to demolish the <a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/dodd-frank\">Dodd-Frank law<\/a>After the financial crisis, it was implemented. He is also concerned by the precedent Biden set, guaranteeing deposits above the $250,000 Federal Deposit Insurance Corporation insurance policy limit. It is not clear if it has adequate funds.<\/p>\n<p>&#8220;We&#8217;ll wade into the bank situation and see what happens,&#8221; He stated. &#8220;In the meantime, we&#8217;ve got his budget to look at, which makes no sense. We will have our ultimate budget proposal that hopefully will pass in the House. Biden&#8217;s budget is dead on arrival. It is part of the regulations and taxes that are causing the economy to flounder.&#8221; <\/p>\n<p>Rep.<\/p>\n<\/div>\n<p><\/p>\n<hr>\n<p>&#8220;Read More from&#8221; <a href=\"https:\/\/www.washingtonexaminer.com\/news\/white-house\/biden-silicon-valley-bailout-economic-concerns\">SVB collapse: Biden faces economic and anti-bailout worries again<\/a>&#8221;<\/p>\n<hr>\n<p><span style=\"font-size:11px\"><em>&#8220;The views and opinions expressed here are solely those of the author of the article and not necessarily shared or endorsed by Conservative News Daily&#8221;<\/em><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden is trying to reassure a public that still mostly remembers the 2007-08 financial crisis that the country&#8217;s banking system and their deposits are safe. But although Republicans are quick to criticize executives at the now-defunct Silicon Valley Bank for miscalculating the institution&#8217;s interest rate risk, they are also scrutinizing Biden for contributing<\/p>\n","protected":false},"author":1,"featured_media":1897125,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[21578,4265,3620,7385,4202,14043,7993,21356,12369],"class_list":["post-1876179","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner","tag-anti-bailout","tag-backlash","tag-biden","tag-collapse","tag-economic","tag-renewed","tag-risks","tag-svb","tag-worries"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1876179","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1876179"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1876179\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1897125"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1876179"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1876179"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1876179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}