Share the article: Biden Bank Run: President Biden and the Democrats caused the collapse of Silicon Valley Bank and Signature Bank

The excessive spending and inflation caused by the Biden administration’s policies have made the basic necessities of life more expensive for families in Illinois and across the country. The negative impact of Bidenflation doesn’t end with higher prices. 

“This inflation has led directly to rising interest rates, and the collapse of Silicon Valley Bank and Signature Bank,” said Chairman Don Tracy“Bidenflation doesn’t just hurt families by increasing the cost of everything, but undermines banks and businesses by depressing the value of certain assets they hold.”

Tracy explained that rising interest rates undermined the value of Silicon Valley Bank bond holdings making many tech startup businesses concerned they wouldn’t have access to their deposits to make payroll. This fear, driven by underlying inflation, caused the run on Silicon Valley Bank. 

“It’s crucial for Americans to recognize that the collapses of Silicon Valley Bank and Signature Bank didn’t happen by chance,” Tracy added. “Biden and the Democrats’ excessive and irresponsible spending binge of borrowed money will have a disastrous impact on the economy that we are only beginning to experience.”


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