Bank collapses: Yes, folks it's a taxpayer bailout
U.S. President Joe Biden “stresses that Silicon Valley Bank is not getting a bailout,” The Hill reported on March 13.
“No losses will be borne by the taxpayers,” he said of the federal government’s decision to cover depositor losses in excess of $250,000. “Instead, the money will come from the fees that banks pay into the Deposit Insurance Fund.”