Voters hate bank bailouts. But letting them fail without a safety net for customers could have been even worse for President Biden ahead of the 2024 presidential race.
President Biden enters the Roosevelt Room on March 13 to talk about why the government backstopped all deposits at two failed banks.
Bank bailouts are politically toxic, something voters made clear after the 2008 financial crisis. But for Biden, the alternative to a bank rescue could have been even worse, as he gears up for what's expected to be a second run for office in the 2024 presidential race."It's almost always better to put out fires before they spread.
"If this is a moment that we get through because they act aggressively and it's forgotten about in a few months, then this is not a problem for them," Buck said."But if this becomes a story we're still talking about a year from now, if there are lots of consequences that last for a while, and if it grows, this could be a presidency-defining, changing moment."Bob Inglis campaigns on June 22, 2010.
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