The Contradictory Realities of Bank Bailouts and Political Blame Game.

An economics expert has contradicted the Biden administration's claim that the bailout of Silicon Valley Bank (SVB) would not cost taxpayers. EJ Antoni, a research fellow in regional economics with The Heritage Foundation’s Center for Data Analysis, said the government is spending taxpayer dollars, which by definition costs the taxpayer. Antoni added that the FDIC doesn’t have enough funds to cover the losses, and the Federal Reserve had to establish an emergency lending fund to backstop the operation. The FDIC will recoup its losses by increasing the fees it charges to all banks, which still shifts the pain onto taxpayers who those insurance and bank fees are passed onto.