Conservatives Point To Biden Policies As Reason For Silicon Valley Bank Collapse

Conservative politicians and the media recently reacted to the unexpected closure of Silicon Valley Bank last week.

Republican Representative Matt Gaetz of Florida is speaking out against bailouts for the bank.

Additionally, many are pointing go "Bidenflation" as the reason for the bank's implosion.

I will NOT support a taxpayer bailout of Silicon Valley Bank.

— Matt Gaetz (@mattgaetz) March 10, 2023

Gaetz's statements came as he appeared on Steve Bannon’s War Room.

During the interview, Bannon asserted that the closure was "100 percent because of Biden’s policies."

Bannon said he believes the federal government will be pressured for a bailout and asked Gaetz how he would respond.

"If there is an effort to use taxpayer money to bail out Silicon Valley Bank, the American people can count on the fact that I will be there leading the fight against such a bailout," Gaetz answered. "The financial arm of Silicon Valley has just been severed before our very eyes."

"SVB played a critical role in the San Francisco start-up company economy," said Breitbart News Economics Editor John Carney.

Journalist Jack Pososbiec also called for the federal government to refuse to bail out SVB.

"Hold them accountable – NO BAILOUTS FOR SILICON VALLEY," Pososbiec tweeted. "GO BROKE STAY BROKE."

"Turning Point USA Founder and President Charlie Kirk and conservative author and filmmaker Dines D’Souza shared similar sentiments," reports Breitbart. "They both tweeted an image that purportedly shows SVB’s diversity, equity, and inclusion policies."

"It is a mystery why Silicon Valley Bank collapsed," said Kirk.

Biden has promised the FDIC will be using accumulated bank fees and not taxpayer dollars for the bailout.