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Biden says US banking system 'safe' as regulators seek to avoid contagion
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Biden says US banking system 'safe' as regulators seek to avoid contagion

From the Michigan dog rescued after falling into icy reservoir, and more of today's top videos series
  • Mar 14, 2023
  • Mar 14, 2023 Updated Mar 16, 2023
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President Joe Biden sought to reassure Americans over the country's banking system Monday, while insisting emergency measures would not be paid for by taxpayers as additional banks came under stress. SVB -- a key lender to startups across the United States since the 1980s -- collapsed after a sudden run on deposits, prompting regulators to seize control Friday.

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Biden seeks to show stability in bid to avert banking chaos

Biden seeks to show stability in bid to avert banking chaos

President Joe Biden is confronting a significant challenge as his administration grapples with the fallout from the second- and third-largest bank failures in history. The Democratic president is doing so amid significant stakes for both the U.S. economy and his political future. 

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