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Republican presidential candidate Nikki Haley on Monday attacked President Biden over what she called a “bailout” of Silicon Valley Bank, which collapsed late last week, after regulators seized the failed bank’s assets and promised to make depositors full.
“Joe Biden is pretending this isn’t a bailout. It is,” Haley said on Twitter.
The administration moved Sunday night to use emergency measures to give depositors access to their full funds, drawing from the Deposit Insurance Fund — a banking industry-sponsored fund — so that “no losses will be borne by the taxpayers,” Biden said.
Biden has underscored that the federal government isn’t bailing the bank out, echoing the assurances of Treasury Secretary Janet Yellen, and stressed that the U.
