"First Republic bank has crashed in one of the biggest bank failures in the nation's history due to Biden's bad policies," said Alfredo Ortiz, founder of the conservative Job Creators Network. "As a result, small businesses will see a further contraction of credit access. Yet Biden and Democrats don't seem to care and want the American banking system to resemble Japan or Canada's, with just a handful of government-controlled big banks."
Regulators seize failed First Republic, as Biden pronounces banking system 'safe and sound'
Alfredo Ortiz, president and CEO of the conservative Job Creators Network, said the Fed’s interest rate hikes “have destroyed the value of the Treasurys held on banks’ balance sheets, making them financially vulnerable.”
Lawmakers grilled Fed Chair Jerome Powell about plan to raise bank capital rules before SVB collapse