Mr.Biden proclaims!
The US President's speech was delivered before most managed to join in. His theses, as expected, were focused on the current situation at American banking sector.
According to Biden, no matter the odds (or this lasting menace?), the banking system remains reliable, and customers can freely use their own funds ( though it's unlikely he could be 100% sure).
A surprising assessment here was that "the Fed and FDIC have done a good job". In such a situation, sounds rather ambiguous.
Biden mentioned taxpayers as the protected party in this crisis, and investors and bank creditors as the unprotected party (in other words, forgive everyone we owe money to).
And, of course, there were promises that this would not happen again (if the Fed did a good job, why should it?).
Overall, there are still plenty questions unanswered. So this speech was rather forced than informative.
A surprising assessment here was that "the Fed and FDIC have done a good job". In such a situation, sounds rather ambiguous.
Biden mentioned taxpayers as the protected party in this crisis, and investors and bank creditors as the unprotected party (in other words, forgive everyone we owe money to).
And, of course, there were promises that this would not happen again (if the Fed did a good job, why should it?).
Overall, there are still plenty questions unanswered. So this speech was rather forced than informative.
