Panicked Democrats Cut Ties With Who?
Democrats always have their hand in something shady, don’t they?
After the sudden collapse of Silicon Valley Bank (SVB) last week, the Democrats in Capitol Hill promptly returned or donated the contributions they received from the bank.
According to Fox, on Tuesday, Senate Majority Leader Chuck Schumer returned a sum of $8,500 to charity, which he had received as donations from Silicon Valley Bank (SVB) and its former CEO, Greg Becker. In 2021, Becker had contributed $5,800 to Schumer’s campaign, and the bank’s PAC had donated $2,700 in 2015.
Since this news has come out, Senator Schumer as refused to speak with any news outlets about the donations and didn’t tell anywhere where he sent the donations from SVB.
Representative Maxine Waters from California, a Democrat, has also decided to return the funds she received from Silicon Valley Bank’s (SVB) PAC. In late 2020, the bank’s political action committee had donated $2,500 to Waters.
“Yes, I will send it back,” panicked Waters told reporters.
During a speech on Monday, President Biden provided reassurance to the American public, stating that they can have confidence in the country’s banking system. The Biden administration has guaranteed that depositors of Silicon Valley Bank (SVB) will be able to access their funds without any charge to U.S. taxpayers, however many taxpayers are doubtful.
Biden vowed, “No losses will be borne by the taxpayers. Instead, the money will come from the fees that banks pay into the deposit insurance fund. Because of the actions that our regulators have already taken, every American should feel confident that their deposits will be there if and when they need them.”
