Both that action and Biden’s statement were intended to reassure Americans about the security of the banking system.
During his remarks, Biden added, “You can have certainty that the banking system is safe. Your deposits will be available as needed.”
He was required to say that.
Nevertheless, being Biden, he cannot simply leave things alone and keep to reality.
“In order to reduce the likelihood that another bank failure will occur,” Biden said, “I am going to encourage Congress and the banking regulators to improve the standards for banks.”
Then he erroneously laid the blame on President Donald Trump, who had nothing to do with the collapse and hadn’t even been in office for over two years.
Trump made no changes to the regulations that contributed to this bank failure. This was more related to the increase in interest rates that followed Bidenflation. Hence, Biden’s terrible policies are again to blame, at least in part. But even if what he stated were true, why didn’t he correct it during the two years the Democrats had total control of Congress prior to this?
This is just Biden shifting the blame once more, which is unsettling when he should be reassuring the public. Accepting responsibility is comforting; lying or shifting the blame is not.
“We need to know everything that happened, including the reasons why those involved should be held accountable.” It’s wonderful that in addition to his other incoherence, he is also contracting Kamala Harris’ “word salad” condition.
He then began to exaggerate the “improvement” the economy had seen under his reign.
Although inflation has reached record levels, Biden boasts about his “plan,” which appears to be nothing more than to continue spending money.
When asked whether this would cause ripples in the system, he refused to respond and rapidly blasted out the door.
The handlers must have warned him not to answer any questions because doing so would probably land him in hot water. That was probably going to get worse the more he talked, which would negate his attempts to reassure them.
So, the scenario we’re in with Biden is quite unfortunate.