The SVB bankruptcy fuels great uncertainty.
(Photo: AP)
New York, Zurich After the Silicon Valley Bank (SVB) collapse, Joe Biden personally reassured the nation. “Americans can rest assured that the banking system is secure,” stressed the US President in the White House on Monday. “Your money will be there when you need it,” he added, referring to the bank’s customers.
It is already the second banking crisis that the Democrat has to deal with. Under Barack Obama as President, Biden, as Vice President, had to stabilize the financial system after the collapse of the investment bank Lehman Brothers.
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