Teetering banks put Biden between a bailout and a hard place ahead of the 2024 race
Voters hate bank bailouts. But letting them fail without a safety net for customers could have been even worse for President Biden ahead of the 2024 presidential race.
When President Biden explained why his administration stepped in earlier this month to rescue two failed banks, he cast it as a decision to help small businesses make their payroll.
And he was emphatic that he was not bailing out Silicon Valley Bank and Signature Bank. "No losses will be borne by the taxpayers. Let me repeat that: no losses will be borne by the taxpayers," Biden said.
Bank bailouts are politically toxic, something voters made clear after the 2008 financial crisis. But for Biden, the alternative to a bank rescue could have been even worse, as he gears up for what's expected to be a second run for office in the
