President Joe Biden on Sunday vowed to hold "fully accountable" the people responsible for the failure of Silicon Valley Bank and a second financial institution, Signature Bank, as he sought to reassure Americans their deposits are safe.
I'm firmly committed to holding those responsible for this mess fully accountable and to continuing our efforts to strengthen oversight and regulation of larger banks so that we are not in this position again.
— President Biden (@POTUS) March 13, 2023
I'll have more to say on this tomorrow morning.
"I am firmly committed to holding those responsible for this mess fully accountable and to continuing our efforts to strengthen oversight and regulation of larger banks so that we are not in this position again," Biden said in a statement.
"The American people and American businesses can have confidence that their bank deposits will be there when they need them," the president added, in remarks he also posted on Twitter.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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