Sleepy Joe might not have much choice now given the growing severity of what she and the country is facing: The collapse of large regional banks Silicon Valley and Signature banks.
— even those well past the FDIC insurance threshold of $250,000. I get it, she doesn’t want people to pull money out of regional banks at just the hint of weakness, but what she is saying lacks credulity. Will the federal government or the underfunded FDIC insurance fund really cover a deposit of more than a million dollars?
“On one hand they’re kind of stuck with her; it would be bad to get rid of a Treasury Secretary during a banking crisis,” said one of my sources, who works at a large DC-based think-tank and has heard the griping firsthand. “On the other hand, they know they don’t have anyone good to be their face in terms of a response.”AFP via Getty Images
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