SVB collapse: Biden administration boxes itself in on universal deposit insurance

Biden administration officials have put themselves in an awkward position after the Silicon Valley Bank fiasco by vowing to bail out its wealthy clients – without offering any similar assurances to depositors in the rest of the banking industry. Treasury Secretary Janet Yellen attempted to straddle that line on Thursday, when she said other regional banks should not necessarily expect to have the Federal Deposit Insurance Corporation cover losses for all accounts in the event of a collapse. Check out our website: https://www.washingtonexaminer.com/