President Joe Biden on Monday vowed to enact rules to prevent banks from collapsing after inflation, fueled by the Biden administration’s energy policies, caused increased interest rates meant to tamp down Biden’s soaring price hikes.
One day after taking credit for inventing a new mechanism intended to provide liquidity “to help assure banks have the ability to meet the needs of all their depositors,” Biden promised new rules to prevent the bank failures.
“I will ask Congress and banking regulators to strengthen the rules for banks to make it less likely that this kind of bank failure happens again,” Biden’s Twitter account posted. “We must protect American jobs and small businesses.”
I will ask Congress and banking regulators to strengthen the rules for banks to make it less likely that this kind of bank failure happens again.
We must protect American jobs and small businesses.
— President Biden (@POTUS) March 13, 2023
It was not immediately clear…
