When the next bank loaded with depositors exceeding $250,000 fails, will the federal government jump in to save the day as it is doing now with Silicon Valley Bank?
That is the question the Biden administration hasn’t answered as of Monday afternoon. The response to it might depend on whether or not that bank is deemed “woke” enough.
The president and his team were quick to jump in to rescue customers of SVB, the 16th largest bank that caters to the leftist techno-class in California and around the country. Many of its clients have far more than the quarter million in deposits that would be covered by the Federal Deposit Insurance Corporation.
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The bank, however, used that money in arguably risky investments and promoted things such as diversity,
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