Joe Biden left out a very important point this morning about the bailouts he and his Administration are taking to rescue the Silicon Valley Bank.
Biden lies through omission.
This morning Joe Biden tried to reassure the nation about the banking segment of the economy as his Administration announced over the weekend that it was bailing out two banks – Signature Bank and Silicon Valley Bank.
Biden looked simply horrible as he slurred his words and mumbled through his short talk about bailing out these two banks. While he was speaking Western Alliance Bank dropped in value.
According to CBS:
Mr. Biden reiterated during his remarks that “no losses will be borne by the taxpayers,” and said the money will instead come from fees that banks pay into the Deposit Insurance Fund.