Treasury Secretary Janet Yellen Says Feds Won’t Bail Out Silicon Valley Bank
Treasury Secretary Janet Yellen announced Sunday that there are no plans to bail out the Silicon Valley Bank in the wake of the institution’s devastating crash.
“We’re not going to do that again,” she said in an interview with CBS’ Face the Nation, referring to federal bailouts that took place after the 2008 market crash. “But we are concerned about depositors, and we’re focused on trying to meet their needs.”
Sen. Mark Warner (D-VA) was also chilly toward the idea of a federal bailout, saying on ABC This Week that the “best outcome will be an acquisition.”