One year ago the FDIC suffered a hostile takeover from the Biden gang. A year later the FDIC is bailing out banks with a significant number of Chinese venture capital accounts.
In February of 2022 President Trump’s FDIC Director resigned after what she claimed was a hostile takeover by the Biden regime. She was appalled with the actions taken by those close to Biden.
FDIC Chair Resigns, Warns Democrats Launching ‘Hostile Takeover’
A year later two banks fail that were run by woke liberals who donated to the Democrats. Silicon Valley Bank had a large number of deposits that were related to Chinese venture capitalists. Barney Frank was on the board of the other bank bailed out by Biden, Signature Bank.
Senator JD Vance says that community banks will take the fall for the bailouts of SVB and Signature Bank failures.
Vance was on with the War Room and he shared that over 90% of SVB deposits were uninsured deposits.
What we basically did is we’re going to charge community banks higher fees to put more money into Silicon Valley Bank to bail out depositors. I think that’s a catastrophic decision.
And I actually talked to the Treasury Department and the FDIC yesterday Steve, and the question that I asked them, and I did not get a good answer was, ‘Are we now a country where there is not such a thing as an uninsured bank deposit?’ … They did not give me a good answer.
Watch the interview with JD Vance below:
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