U.S. President Biden Insists The U.S. Banking System Is Safe

Daily Mail: Biden says Silicon Valley Bank managers should be FIRED over collapse and defends his response: Says money is safe, taxpayers won't cover losses and blames Trump for rolling back regulations

* President Joe Biden tried to help avoid a full-blown banking crisis with short remarks Monday morning before the markets opened

* He said that bank managers of the collapsed institutions would be fired

President Joe Biden on Monday said the U.S. banking system is 'safe' and assured on-edge taxpayers they won't foot the bill for the stunning collapse of Silicon Valley Bank.

Biden tried to project calm amid fears of a financial meltdown and a run on the banks after shares plummeted 74 percent in pre-market trading amid the second-largest banking collapse in U.S. history.

He defended his administration's response in his less than four-minute remarks, said the executives at Silicon Valley Bank should be fired and pointed the finger at Donald Trump for rolling back regulations.

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WNU Editor: When the leader of a country appears on TV early Monday morning saying do not worry, do not panic, everything is OK. Take that as a sign that you should worry, and that everything is not fine.

U.S. President Biden Insists The Banking System Is Safe

Biden insists banking system is safe after 2 bank collapses -- AP

Biden pledges 'whatever needed' for U.S. system as banks hit by SVB fallout, article with video -- Reuters

Biden says 'the banking system is safe' after Silicon Valley Bank shutdown -- NBC

Silicon Valley Bank: Biden says US banking system is safe -- BBC

Banking system is 'safe', Biden assures Americans after SVB collapse -- France 24

‘That’s how capitalism works,’ Biden says of SVB, Signature Bank investors who lost money in failed banks -- CNBC

Biden Insists "The Banking System Is Safe" -- Zero Hedge