President Joe Biden boarded Air Force One, then switched to a train to travel to Ukraine, after a train containing dangerous chemicals derailed in East Palestine, Ohio.
The U.S. president is concerned about a border that is not his own, in fact, he has only ever visited it once, yet he has traveled to the Ukrainian border the same amount of times.
When wealthy bankers suffered financial losses, Biden reacted quickly.
Friday marked the beginning of a downward spiral, as the Silicon Valley Bank (SVB) fell — the second most significant collapse in history. Over the weekend, Biden took action to demonstrate his support for the financial sector.
On Monday, shortly before the New York Stock Exchange opened, Biden declared that the federal government would provide funds similar to the ones distributed when the banking industry crashed 15 years ago.
The president declared that he had ordered his team to take immediate steps to safeguard these interests, in order to halt the tremendous market drops and widespread fear.
Customers with deposits in these banks can be certain that their money is safe and available to them as of now. This includes small businesses that count on these banks for payroll, bills, and staying in business, the President said.
President Biden reassured Americans, speaking from the White House, that their funds in the banking system would be secure. “You can be sure that your deposits will be available when you require them,” he stated.
SVB has nothing to do with small businesses. For example, Roblox, a gaming company worth $3 billion, had approx. $150 million stored in SVB, while streaming service Roku had nearly $500 million, and U.S. cryptocurrency firm Circle had $3.3 billion of its $40 billion in deposits at SVB.
Not your typical mom and dad "small businesses."
Greg Becker, CEO of SVB, disposed of $3.6 million of the company's stock not long before the bank's downfall. Furthermore, in one of those inexplicable coincidences, Bloomberg revealed that Peter Theil's Founder's Fund, which is valued at $11 billion, took out millions of dollars by Thursday morning.
In contrast to Ohio, Biden quickly came to the aid of his wealthy benefactors, many of whom had contributed to his presidential bid. On February 3, a Norfolk Southern Railway train derailed in East Palestine, a town with only 5,000 inhabitants, and its cars, laden with vinyl chloride, ethyl acrylate, and isobutylene, scattered across the area.
For fourteen days in a row, FEMA, led by Biden, was nearly inactive, not appearing until the 18th of February. Buttigieg, Secretary of Transportation, only arrived at the affected area three weeks after the incident, on the 23rd of February.
Subsequent to the visit of former President Trump, the town was again visited.
Senator Vance of Ohio expressed his confusion as to why Biden failed to appear.
He suggested on Fox News that a portion of the leadership had been sluggish in their response to the crisis in East Palestine, stating that they may deem these individuals to be unfashionable, politically incorrect, and perhaps too rural and pale-skinned.
Sen. Josh Hawley (R-MO) posted on Twitter, "It looks like Joe Biden is more likely to go to Silicon Valley Bank than East Palestine."
Bernie Moreno, an entrepreneur who has a relatively modest following on Twitter, got the best joke in. He quipped, "Maybe if East Palestine changed its name to 'East Silicon Valley,' then it could get the recognition it deserves from Biden."
Perhaps if East Palestine changed its name to "East Silicon Valley," it would gain the recognition it deserves from Biden.
Bernie Moreno tweeted on March 13, 2023.
It sure is true.
The opinions stated in this article are solely the author's and do not reflect those of The Daily Wire.
Joseph Curl has spent over three decades keeping track of politics, including working as the White House correspondent for a major newspaper for twelve years. Additionally, he was the morning editor of the Drudge Report for four years. If you have any information to share, send it to josephcurl@dailywire.com and follow him on Twitter @josephcurl.