Opinion | Biden rushes to bail out Silicon Valley, continues to ignore East Palestine WashTimesOpEd
“Today, thanks to the quick action of my administration over the past few days, Americans can have confidence that the banking system is safe,” Mr. Biden assured the U.S. public. “Small businesses across the country that had deposit accounts at these banks can breathe easier knowing they’ll be able to pay their workers and pay their bills. And their hard-working employees can breathe easier as well.
Its account holders don’t reside in East Palestine, Ohio, who continue to suffer from a toxic train derailment largely ignored by the Biden administration. These account holders are Mr. Biden’s donors, and the derailment victims are not. “Some Dem tech investors who have spent millions of dollars currying favor with the Biden administration are furious about what they call the White House’s utter lack of help over the collapse of Silicon Valley Bank,” the Post said. “One of the deep-pocketed venture capitalists told The Post that Treasury Secretary Janet Yellen’s statement Sunday throwing cold water on the possibility of a bailout was ‘pathetic.
It did, however, find time to publicly commit $5 billion in “sustainable finance and carbon neutral operations to support a healthier plant.” According to its 2022 ESG report, it had an all-important Diversity, Equity and Inclusion governance group, a “green team” that focused on “internal sustainability interests and activities,” and a “climate risk group.”
High-interest rates, combined with venture capitalists and their greed machine, contributed to SVB’s collapse. Now, Mr. Biden is protecting the banking sector from the damage of higher interest rates – but what about the rest of America? The average U.S. consumer continues to pay 40-year highs on everything from gasoline to groceries.
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