Biden Bails Out Silicon Valley Bank, and You're Picking Up the Tab

Sara Carter Show

M3 Media

Politics, News, News Commentary

4.8 • 3.2K Ratings

🗓️ 13 March 2023

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Every day, Sara sees the prices rise for basic items like milk, eggs, and even fruits and vegetables. And she knows you do too. And for families living on razor-thin margins the higher costs are very stressful. In fact, Sara remembers the day much earlier in her career when she was forced to make a very painful decision to help make ends meet.

But while we struggle with inflation and the government does little to ease the pain, the Biden administration immediately swoops in to save Silicon Valley Bank. And while Biden says the taxpayer will not bear the burden of restoring money to all the bank customers, the facts suggest otherwise. So what's going on here and what could still happen from all of this uncertainty?

Sara welcomes former Overstock.com CEO Patrick Byrne to explain why this bank failed so quickly and why the damage may be far from over.

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Transcript

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0:00.0	Hey guys, treating on several major bank stocks has been halted.
0:13.6	Haltered today after the sudden collapse of Silicon Valley bank and it sent shockwaves
0:18.9	through the market, I know that I was scared all weekend.
0:24.7	I was terrified actually.
0:26.0	What direction is this going to go?
0:27.6	I don't think we really even know right now.
0:31.7	And even though I think there are a lot of lawmakers out there trying to ease everybody's
0:36.6	concerns, there's been, of course, another government bailout.
0:41.9	That's the way I see it.
0:43.4	You know, on this small bank, I think that there's worry that not only are lawmakers lying
0:49.9	to us, but that we can't really trust these financial institutions that we have our money
0:56.2	in.
0:57.2	Especially ones that are not FDIC insured.
1:01.8	And I mean, even then, I mean, think about it.
1:03.9	I mean, remember what happened in 2008?
1:06.9	And then we had to have, andro Obama, then we had that bailout happen then.
1:11.1	I mean, what is really going on here?
1:14.1	And by the way, as a mom and somebody who goes to the grocery store, just like you, I,
1:21.4	you know, I do the same thing.
1:22.6	I go to the grocery store.
1:24.0	I'm watching prices, skyrocketing on, and especially on certain products at the grocery store.
1:31.0	And I'm worried about what I'm seeing globally.
	...

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