The White House is avoiding one word when it comes to Silicon Valley Bank: bailout
The Biden administration has taken pains to avoid the word "bailout" in describing the effort to rescue Silicon Valley Bank depositors. Yet banking experts say it sure does look like a bailout.
After Silicon Valley Bank careened off a cliff last week, jittery venture capitalists and tech startup leaders pleaded with the Biden administration for help, but they made one point clear: "We are not asking for a bank bailout," more than 5,000 tech CEOs and founders begged.
On the same day the U.S. government announced extraordinary steps to prop up billions of dollars of the bank's deposits, Treasury Secretary Janet Yellin and
