Sen. Ted Cruz (R-TX) slammed the Biden administration’s bailout of Silicon Valley Bank this week, warning that it will incentivize future bad behavior from banks.
Cruz made the comments Wednesday on his podcast “Verdict,” with co-host Ben Ferguson, while discussing the ripple effect that the collapse of the bank has had on the U.S.
“It’s called into question a lot of the financing for venture capital, and it has potentially imperiled a significant number of mid-sized banks,” Cruz said at the start of the show. “In response to this, the Biden administration rolled out a major bailout, conveniently bailing out the politically connected friends of the Biden White House in a way that will have lasting repercussions for the economy, and will almost certainly incentivize future bad conduct by other banks.”
Several minutes later, Cruz expanded on his remarks, noting that there were a lot of people who were going to look at what the Biden administration did by bailing out a…
