Biden Administration , Takes Action Following , Silicon Valley Bank Shutdown.<br />Biden Administration , Takes Action Following , Silicon Valley Bank Shutdown.<br />On March 13, President Joe Biden said that people <br />should remain confident in the banking system <br />following the collapse of Silicon Valley Bank last week.<br />On March 13, President Joe Biden said that people <br />should remain confident in the banking system <br />following the collapse of Silicon Valley Bank last week.<br />Thanks to the quick action of my <br />administration over the past few days, <br />Americans can have confidence that <br />the banking system is safe. Your deposits <br />will be there when you need them, Joe Biden, President of the United States, via NBC.<br />Thanks to the quick action of my <br />administration over the past few days, <br />Americans can have confidence that <br />the banking system is safe. Your deposits <br />will be there when you need them, Joe Biden, President of the United States, via NBC.<br />NBC reports that it was, the second-largest bank failure, in the history of the United States.<br />In an attempt to ease uncertainty regarding <br />the U.S. banking system, President Biden <br />addressed actions his administration plans to take.<br />According to Biden, the administration <br />will implement measures to protect <br />customers' deposits and safeguard U.S. taxpayers, <br />while also holding responsible parties accountable.<br />According to Biden, the administration <br />will implement measures to protect <br />customers' deposits and safeguard U.S. taxpayers, <br />while also holding responsible parties accountable.<br />In my administration, no one <br />is above the law. And finally, <br />I must reduce the risk <br />of this happening again, Joe Biden, President of the United States, via NBC.<br />NBC reports that Biden suggested that both Silicon Valley Bank and Signature Bank, another institution included in <br />the plan, should be placed under new management.<br />NBC reports that Biden suggested that both Silicon Valley Bank and Signature Bank, another institution included in <br />the plan, should be placed under new management.<br />If the bank is taken over by FDIC, <br />the people running the bank <br />should not work there anymore, Joe Biden, President of the United States, via NBC.<br />According to Biden, the administration <br />would also ask Congress and regulators <br />to bolster rules for banks.<br />According to Biden, the administration <br />would also ask Congress and regulators <br />to bolster rules for banks.<br />Americans can rest assured <br />that our banking system is safe. <br />Your deposits are safe. Let me also <br />assure you we will not stop at this <br />— we’ll do whatever is needed, Joe Biden, President of the United States, via NBC
