March 17, 2023 19:41 GMT
US Voters Support Bank Rescue Measures But Consider It A "Bailout"
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Morning Consult has reported that 60 percent of US voters approve of the federal government’s response to the collapse of Silicon Valley Bank, but consider it a “bailout” despite contrary claims from the White House.
- The Biden administration has taken steps to distance measures taken this week to those taken during the 2007-08 financial crisis with White House press secretary Karine Jean-Pierre saying on Monday that, "this is not a bailout."
- Former Press Secretary during the Obama Administration, Robert Gibbs, said: “The term and the idea of bailouts are still highly toxic."
- Morning Consult: “Most Democrats (79%) and independents (57%) said they support the Biden administration’s move to implement an emergency investment fund to ensure that all deposits at Silicon Valley Bank, Signature Bank and Silvergate Capital Corp., will be covered. Republicans, meanwhile, were split, with 40% in favor and 43% opposed.”
- “At 74%, Republicans were also the most likely to say that the Biden administration’s moves constituted a bailout, though 52% of Democrats and 62% of independents agreed.”
Figure 1: Support for Government Bank Rescue
Source: Morning Consult
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