Staff Reports
President Joe Biden’s recent claims about the First Republic Bank collapse are more of the same empty promises from a failing administration. Biden’s assurance that taxpayers won’t foot the bill for this disastrous failure is laughable considering the previous collapse of Silicon Valley Bank in March, which also supposedly wouldn’t impact taxpayers.
After Another Bank Collapse, Biden Claims the Banking System Is 'Safe' https://t.co/CiYvsp5Paq
— Townhall.com (@townhallcom) May 1, 2023
Despite Biden’s claims of “protecting small businesses,” it’s clear that his administration has no clue how to handle this growing crisis. The government bureaucrats in charge seem to be making the situation worse, and the taxpayers are getting stuck with the bill.
REPORTER: "Is this it? Are you bracing for more banks to fail?"
KJP: "The American people…can continue to have confidence…No taxpayer dollars will be used to facilitate this action." pic.twitter.com/qeRhlbpR7v
— Townhall.com (@townhallcom) May 1, 2023
Regulators Seize First Republic in Second-Largest US Bank Failure, Sell to JPMorgan https://t.co/Dy6vs1mgsj
— Townhall.com (@townhallcom) May 1, 2023
Sen. @MikeCrapo gets Biden Treasury Sec. Janet Yellen to admit the link between Biden's inflation crisis, rising interest rates, and the current banking crisis pic.twitter.com/rgp6Ozuqpx
— RNC Research (@RNCResearch) March 16, 2023
Less than a week after the second- and third-largest bank collapses in American history, Biden Treasury Secretary Janet Yellen says "our banking system is sound" and "Americans can feel confident" pic.twitter.com/9ofzZ6uYM9
— RNC Research (@RNCResearch) March 16, 2023
It’s time for the Biden administration to stop making empty promises and start taking responsibility for their actions. The collapse of First Republic Bank is just the latest example of how this administration’s reckless policies are hurting hard-working Americans.
As shareholders lose their investments, it’s clear who is bearing the brunt of the burden: everyday Americans who are trying to make ends meet. It’s time for the government to step in and take real action to protect taxpayers and prevent future failures like this from happening again.
The Biden administration’s incompetence and failure to act is only making this crisis worse. It’s time for real leadership to step up and protect the American people from the reckless actions of a government that seems to be more interested in playing politics than in doing what’s best for the country.
