Joe Biden On Silicon Valley Bank: A reporter asked Joe Biden, “President, what do you know right now about why this happened? And can you assure Americans that there won’t be a ripple effect?”
US President Joe Biden ducked out of a briefing on the Silicon valley bank collapse when he was asked why the crisis happened. US financial system rattled following the collapse of startup-focused lender SVB Financial Group on March 10 which became the largest bank to fail since the 2008 financial crisis, roiling global markets.
Joe Biden reassured US taxpayers that his administration is “maintaining a resilient banking system and protecting our historic economic recovery” after which a reporter asked, “President, what do you know right now about why this happened? And can you assure Americans that there won’t be a ripple effect?”
Without answering the question, the US President walked away as another reporter asked, “Will other banks fail, Mr President,” asked another reporter. Joe Biden had, by then, left the room.
The video which has been widely shared on social media triggered massive backlash.
In his remarks, Joe Biden said, “Americans can have confidence that the banking system is safe…Your deposits will be there when you need them.”
But this is not the first time Joe Biden left a room of reporters without answering their queries. Earlier after addressing a conference on China’s spy balloon, a reporter had asked Joe Biden, “Are you compromised by your family’s business relationships?” after which he snapped and said, “give me a break, man” and walked off.