Biden walks off press briefing when asked about reasons for SVB collapse
US President Joe Biden walked away from a briefing on the Silicon Valley Bank collapse when he was asked why the crisis happened. SVB Financial Group on March 10 became the largest bank to fail in the US since the 2008 financial crisis.
During the briefing, Biden said that his administration is “maintaining a resilient banking system and protecting our historic economic recovery”.
Also read: SVB solution ensures taxpayer dollars are not put at risk: President Biden
The Q&A
But, when a reporter asked, “President, what do you know right now about why this happened? And can you assure Americans that there won’t be a ripple effect?” Biden, without answering, walked away even as another reporter asked, “Will other banks fail, Mr President.”
Biden had, by then, left the room.
"Can you assure Americans that there won't be a ripple effect? Do you expect other banks to fail?"
BIDEN: *shuts door* pic.twitter.com/CNuUhPbJAi
— RNC Research (@RNCResearch) March 13, 2023
The video has been widely shared on social media and has attracted adverse reactions.
This is not the first time Biden has left a room of reporters without answering their queries. Earlier during a conference on China’s spy balloon, a reporter had asked him, “Are you compromised by your family’s business relationships?” Biden had snapped, “give me a break, man” and walked off.