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From the opinion pages of the Wall Street Journal, this is Potomac Watch.

Federal regulators intervene to rescue depositors at Silicon Valley Bank and to try to stop

contagion from the bank failure to the rest of the banking system.

President Biden says, it's not a bailout.

Any blames president Trump for any troubles at the banks will try to sort the fact from

the political fiction and tell you where this latest financial panic could go.

Welcome.

Joe, editor of the editorial page of the Wall Street Journal, and I'm here with two of

my colleagues.

Follow these issues intimately.

Alicia Finley and Joe Sternberg.

Welcome to you both.

So the backdrop here is the Silicon Valley Bank, bank with a couple of hundred billion

dollars in assets was taken over by the Federal Deposit Insurance Corporation on Friday.

And the FDIC was hunting for a buyer held an auction on Sunday.

Apparently there were bids, but in the end, nobody, the FDIC was willing to accept the

bids.

So no buyer yet for the bank and its assets, which is typically what happens in bank closures.

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