President Joe Biden bolted from the podium Monday morning after a platitudinous speech on banking regulations, refusing to take questions shouted as he closed the Roosevelt Room door on reporters.
Following the shuttering of two banks by federal regulators, Biden said, “All customers who had deposits in these banks can rest assured they’ll be protected and they’ll have access to their money as of today.”
Biden concluded his remarks and exited stage left as one reporter shouted “Should all depositors be protected at all banks?”
WATCH: Biden refuses to take any questions after he delivers remarks on the economy. pic.twitter.com/MiX6vOri9g
— Daily Caller (@DailyCaller) March 13, 2023
Viewers might scratch their head at some of Biden’s remarks, such as “We must get the full accounting of what happened and why those responsible can be held accountable.”
BIDEN: "We must get the full accounting of what happened and why those responsible can be held accountable." 🤔 pic.twitter.com/7Xd7sLOSTI
— RNC Research (@RNCResearch) March 13, 2023
President Biden also suggested he will seek stronger regulations on banking institutions but provided no examples or even broad policy proposals.
Federal action comes in the wake of the largest collapse of private banks since the 2008 financial crisis. Silicon Valley Bank initiated the current frenzy last week after news rippled out the bank’s investment strategy may be leaving clients without access to funds. Regulators on Sunday closed a second bank, crypto-focused Signature Bank, after a run on deposits threatened a further spread of the crisis.