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ObamaNation See other ObamaNation Articles Title: Biden’s Budget Director Unable to Answer Basic Question About US Banking System (VIDEO) Joe Bidens top budget director Shalanda Young was unable to answer the most basic question about the US banking system during an appearance on CNNs State of the Union on Sunday. Silicon Valley Bank collapsed and was under FDIC receivership by Friday after a run on the bank. Depositors withdrew more than $40 billion from Silicon Valley bank by late Thursday and Friday morning. FDIC auction was underway on Sunday for Silicon Valley Bank. The final bids are due on Sunday. Fear of contagion is now spreading after depositors were seen lining up at First Republic Bank branch in Los Angeles on Saturday. Bidens Budget Director Unable to Answer Basic Question About US Banking System (VIDEO) March 12, 2023 0 Comments Facebook Joe Bidens top budget director Shalanda Young was unable to answer the most basic question about the US banking system during an appearance on CNNs State of the Union on Sunday. Silicon Valley Bank collapsed and was under FDIC receivership by Friday after a run on the bank. Depositors withdrew more than $40 billion from Silicon Valley bank by late Thursday and Friday morning. FDIC auction was underway on Sunday for Silicon Valley Bank. The final bids are due on Sunday. Fear of contagion is now spreading after depositors were seen lining up at First Republic Bank branch in Los Angeles on Saturday. CNNs Kaitlan Collins on Sunday asked Shalanda Young if the US banking system is safe and secure after SVBs collapse. Shalanda Young punted the question to Janet Yellen. I think the voice here is our Treasury Secretary who is our lead and working with regulators, um, thats the appropriate person we should listen to here, she said. She was unable to answer a basic question. WATCH: Post Comment Private Reply Ignore Thread
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