Biden's Bank Crisis: Comparisons to 2008 and Republican Denial.

The White House is avoiding the term "bailout" as President Joe Biden defends his actions to rescue depositors of two failed banks to avert a large-scale financial crisis. The Federal Reserve, the Treasury Department, and the Federal Deposit Insurance Corporation took the extraordinary step this week of guaranteeing the deposits at Silicon Valley Bank and Signature Bank after regulators closed both. Biden cited the source of the rescue money – bank premiums and interest earned on funds invested in U.S. government obligations – to argue his administration's strategy is not a bailout because taxpayers aren't on the hook.