They took the risk, and it did not pay off - Biden said that investors in Silicon Valley Bank and Signature Bank would not receive the money back

In three days, two large banks collapsed in the United States at once.Last week, the regulator shut down Silicon Valley Bank, and today it was

Signed Bank.After their collapse, the president spokeUnited States Joe Biden.

What is known

The head of the White House immediately noted that the Americanthe banking system is not threatened. Taxpayers will not suffer losses due to the situation with Silicon Valley Bank and Signature Bank. At the same time, Joe Biden stressed that investors who have invested in these banks will not be able to get the money back.

“They deliberately took a risk, and when the risk didn't pay off, the investors lost their money. This is how capitalism works.” – Joe Biden

Timely action by the presidential administrationallowed to keep the banking system safe. Biden noted that American contributions "will be there when they are needed." The president also promised to fire the heads of Silicon Valley Bank and Signature Bank.

In addition, the head of the White House plans tomeasures to reduce the risk of a recurrence of a similar situation in the future. Joe Biden will ask the US Congress to strengthen the requirements for banks and recalled that part of the criteria for credit institutions was canceled under the presidency of Donald Trump (Donald Trump).