Amid the ongoing banking crisis, U.S. President Joe Biden decided to spend the weekend posting numerous social media messages in which he touted the so-called American Rescue Plan. 

As Breitbart News' Joel B. Pollak points out, the irony of this cannot be overlooked.

Pollak writes:

President Joe Biden spent the weekend tweeting about the American Rescue Plan — his $1.9 trillion spending plan that many economists blame for triggering the inflation that has led, in part, to the current banking crisis.

It is about as tone-deaf of a response to the banking crisis as one can possibly imagine from a U.S. president.

"Thanks to the American Rescue Plan . . ."

Biden, over the weekend, posted at least 10 tweets directly praising the American Rescue Plan. He appears to have done so because it was the two-year anniversary of the signing of the American Rescue Plan into law.

Two years ago today, I signed the American Rescue Plan into law.

It helped get our economy back on track, vaccinate over 230 million Americans, and keep police on the job—and we’re stronger because of it.

— Joe Biden (@JoeBiden) March 11, 2023

This is one of the numerous tweets. He began many of these messages with the phrase, "thanks to the American Rescue Plan."

In one, for example, he writes, "Thanks to the American Rescue Plan, the expanded Child Tax Credit cut child poverty in half and gave tens of millions of parents breathing room. My budget would restore it."

But, perhaps the most egregious tweet from Biden, considering the banking crisis, is the one in which he wrote, "with the signing of the American Rescue Plan, we laid the foundation for the progress we see today."

He's not wrong

The one thing that Biden didn't tweet about for most of the weekend is the collapse of the Silicon Valley Bank.

In economics, it is not always easy to prove a cause-and-effect relationship between two events. But, at the very least, there is a correlation between the passage of the American rescue Plan and the significant rise in inflation.

Then, there is a causal connection between this inflation and the Federal Reserve Bank's decision to raise the interest rates, which, in turn, caused, among other things, uncertainty for businesses, including technology businesses.

Whether any of this played a role in the Silicon Valley Bank collapse is for you to decide.

The Associate Press reports that, on Sunday, the U.S. government decided to take action in the Silicon Valley Bank situation. Per the outlet:

The U.S. government took extraordinary steps Sunday to stop a potential banking crisis after the historic failure of Silicon Valley Bank, assuring all depositors at the failed institution that they could access all their money quickly, even as another major bank was shut down.

This story was originally published by the WND News Center.

Hundreds of thousands of American lives lost because those in China and Mexico are attacking the United States with the deadly fentanyl epidemic.

A million dead because of a virus that most likely leaked, or was released, from a Chinese laboratory.

Untold numbers of innocent Afghanis turned over to the terrorists in the Taliban – with dire results.

All of these actions have been allowed by Joe Biden, and they amount to treason, according to David Horowitz.

He's the founder of the David Horowitz Freedom Center and the bestselling author of several books, including "Radical Son," "The Black Book Of The American Left," "Dark Agenda: The War To Destroy Christian America," and "I Can’t Breathe: How A Racial Hoax Is Killing America."

His comments appeared in a column at Front Page Mag.

He cited the 300,000 American soldiers lost during the four years of World War II.

"In the last four years, the number of Americans poisoned by fentanyl has approached that number. These poisons, deliberately designed to kill Americans and especially young Americans, are supplied by China and smuggled across our open southern border by Mexican drug cartels. These attacks have taken place without America’s commander-in-chief issuing a single protest or threat against the governments of Mexico and China, even though his primary responsibility is the protection of American lives," Horowitz noted.

"Nor is this the first deadly assault on American citizens by the Chinese Communist Party – or enabling response by the Biden administration. Over one million Americans were killed by the coronavirus, a biological weapon funded by Dr. Anthony Fauci and America’s Centers for Disease Control, and created in a Chinese military lab in Wuhan," he explained.

"The Chinese government lied about the contagious and deadly nature of the virus and permitted millions of Wuhan inhabitants to travel abroad for the Lunar New Year and infect the globe. Immediately after the World Health Organization formally declared the spread a 'pandemic,' President Trump barred Chinese travel to America, an act for which he was viciously attacked by the leaders of the Democrat Party including Joe Biden who described Trump’s precautionary travel ban as 'hysterical and xenophobic,' 'fear mongering' and 'racist.'"

He noted such cover-ups to protect the Chinese Communist dictatorship fill a long and depressing list.

"It includes the White House’s stone-walling of congressional efforts to investigate the origins of the pandemic that killed 9 million people globally. It includes similar stone-walling on otherwise inexplicable blunders that turned Afghanistan and its hapless citizens over to the Taliban and China, along with seven multi-billion-dollar air bases and tens of thousands of advanced weapons, and that made hostages of those who helped us during the 20-year war," he said.

He continued, "Who is Joe Biden? The language we have been using to describe what has been happening to our country is so sanitized that the most fearless of our politicians and news commentators will go no further than wondering aloud whether Joe Biden might be 'compromised' by his influence-peddling side businesses with our enemies, China and Russia. Here is the blunt and clarifying way to put his activities of the last several decades: 'Joe Biden and his family have made themselves wealthy beyond their dreams by taking millions of dollars in bribes from foreign powers, chief among them our mortal enemy Communist China.'"

He said all of what Biden has done is uncertain. But what he confirmed is that "'betrayal' is the appropriate word to describe what he has done.

The Daily Wire noted the headline on the column was, "How should we regard the president's treason?"

The Western Journal noted bluntly that Biden was being accused of "selling out the United States to its foreign adversaries for piles of dirty cash."

The report pointedly said, "Under 18 U.S. Code 2381, treason – a crime punishable by death – involves waging are and/or 'giving aid and comfort' to the enemies of the United States."

This story was originally published by the WND News Center.

There's more bad news about the Wuhan, China, lab where scientists were working on bat coronaviruses, including some experiments intended to make them worse, called gain-of-function work.

It's already now routinely accepted as the source, whether by deliberate move or accident, of the COVID-19 virus that went around the globe and killed millions.

It's also where, reports have revealed, American tax money was used for that gain-of-function work even though it was not supposed to be used for that.

Now a new report reveals that American taxpayers may have paid twice for some of those billings.

It is a report by Catherine Herridge and Analisa Novak at CBS that said, "The U.S. government may have made duplicate payments for projects at labs in Wuhan, China, through the National Institutes of Health (NIH) and U.S. Agency for International Development (USAID)."

The report cited records the news outlet has reviewed.

Diane Cutler, who formerly was an investigator of white-collar crime and fraud, said, "What I've found so far is evidence that points to double billing, potential theft of government funds. It is concerning, especially since it involves dangerous pathogens and risky research."

The report said Cutler saw evidence of possible double payments as she reviewed U.S. grants that support "high-risk research" that was going on in China just before the COVID-19 pandemic.

The report said she had been hired by Republican Sen. Roger Marshall, who took her discoveries to USAID and others to be used in a new investigation.

The double payments may have involved medical supplies, equipment, travel, and salaries, the CBS report said, and involved up to "tens of millions of dollars."

A USAID official declined to comment, and Marshall said what would be correct now is a 9/11-style commission to investigate.

"I think there are 1.1 million reasons that American taxpayers should care," he explained to CBS. "You'll have a plane crash. We want to find out why the plane crashed. We go to any lengths to do that. And the hope is we don't have another plane crash for the same reason."

While Joe Biden's COVID-19 adviser, Anthony Fauci, still claims it's likely that COVID made an animal-to-human jump in nature, other experts at the FBI, the Energy Department, and more say they consider the Chinese lab a likely source of the scourge.

This story was originally published by the WND News Center.

America's banking industry remained in turmoil on Monday after two large banking corporations were shut down late last week and over the weekend – a proximate result of the 2020 presidential election.

The Gateway Pundit was reporting that trading at more than 30 banks was halted, at least temporarily, because of the explosive details of the failures.

That report noted Market Watch was warning, "To gauge the panic-like activity of bank investors in the wake of the recent failures of SVB Financial Group’s SIVB, Silicon Valley Bank and Signature Bank SBNY, -22.87%, investors can check out the Nasdaq’s 'Current Trading Halts' page. Multiple banks have had their stock halted for volatility, some more than once, since the opening bell. Among some of those that have already been halted at least twice, shares of Western Alliance Bancorp WAL, -82.55% plummeted 78.2%, Regions Financial Corp. RF, -7.54% sank 15.6%, First Republic Bank FRC, -77.82% plunged 65.5%, Comerica Inc. CMA, -38.51% tumbled 39.4% and PacWest Bancorp. PACW, -53.44% took a 47.7% dive. The selloffs come as the S&P 500 SPX, -0.11% inched up 0.1%, erasing an earlier drop of as much as 1.4%."

It's likely because Barack Obama, back in the day when he was imposing his ideological agenda on America, stated, "Elections have consequences."

Joe Biden's election in 2020 allowed his all-out attack on America's energy independence, its ability to generate revenue selling oil and natural gas, and other factors like a wide-open southern border that allowed millions of illegal aliens to enter. Biden also has engineered the spending of trillions of dollars – pushing the nation's debt to never-before-seen levels.

The result was inflation – which maxed out at 9.1% last summer and still remains extraordinarily high.

That triggered the Federal Reserve's many repeated decisions to raise interest rates hugely – in its attempts to slow down that inflation.

That resulted in the shutdowns of a couple of banks whose officials had left their assets imbalanced – heavily into mortgages as those interest rates were exploding.

The New York Post cited the 70% plunge in shares of First Republican Bank in pre-market Monday trading before those sales were halted.

That happened just as the feds assumed control of Silicon Valley Bank and Signature Bank.

The Post said, "Trading was halted despite President Biden addressing the burgeoning crisis." He said the nation's banking system is "safe" and immediately called for more regulations.

"Americans can have confidence that the banking system is safe. Your deposits will be there when you need them," he said.

Among other troubled organizations were Western Alliance, PacWest Bancorp, Charles Schwab, and more.

Even so, the Dow Jones Industrial Averages rose more than 200 points mid-day.

A third bank, Signature Bank, was closed by the state of New York just days earlier, but it was for unrelated reasons.

According to Yahoo Finance, the stock price rise followed "aggressive" work to prevent further bank failures.

The report said," U.S. stocks got smoked on Friday, rounding out their worst week so far this year. Federal regulators closed tech-focused lender Silicon Valley Bank in the biggest U.S. bank failure since the financial crisis in 2008."

Biden's messaging on Monday claimed, "no losses will be borne by taxpayers." But he also said customers all would be protected.

In fact, Treasury Secretary Janet Yellen, Fed Chair Jerome Powell, and FDIC Chairman Martin J. Gruenberg announced that depositors of the failed Silicon Valley Bank would be able to access all their money starting Monday.

The report also predicted, "Economic releases will dominate the conversation this week as Wall Street pays attention to two data prints as the next Federal Reserve’s meeting rapidly approaches. At the same time, investors will be glued to the latest headlines over the collapse of SVB Financial Group and the implications for the banking sector."

One of the questions to be answered is whether the Fed will continue raising interest rates to extraordinary heights.

This story was originally published by the WND News Center.

The transformation of once-wholesome American corporations like Disney and Walmart into fulcrums of LGBT power, advancing a wildly destructive sex-and-gender revolution, is not just a tragic story of American moral decline, but also one that offers vital and little-known lessons on the strategies and tactics of the Sexual Left.

How did it happen? How did the self-styled "queer" (Lesbian, Gay, Bisexual, Transgender) movement gain such a powerful foothold in corporate boardrooms and, specifically, human resources departments? Surely, a host of factors contributed to the present crisis — the nation’s growing secularization and abandonment of biblical ethos, the increasingly slavish devotion of corporate media to all things LGBTQ, the "coming out" of millions of Americans (decades ago mostly as gay or lesbian, but today as "non-binary," "genderqueer," etc.) and the emotional manipulation of loved ones that comes with it — to name a few.

But another vital but largely invisible factor deserves attention: the cunning strategies and organizational efforts of "gay" and trans activists laboring inside and outside corporations to push major companies to serve the LGBT agenda. Homosexual and trans activists at the biggest "queer" organization in America — the Human Rights Campaign, or HRC — have perfected a corporate shakedown strategy that would make Rev. Jesse Jackson and his Rainbow Coalition green with envy. They worked the system with greater savvy and commitment than their faith-based foes, and won, partly because so many conservatives rolled over rather than risk being called "bigots," "homophobes," and now, "transphobes."

Of course, it helps to have the media completely in your corner. And yet, putting politics aside, every "queer" victory, whether in a legislative chamber, courtroom, or Fortune 500 corporate office, is a Pyrrhic victory, defying God’s truth and eroding America’s Judeo-Christian-based morality, undermining the integrity of her institutions, and ultimately contributing to the mass corruption and seduction of her children — one LGBT "equality" concession at a time.

One of the most ingenious and effective pressure campaigns ever run by the Left is the HRC’s “Corporate Equality Index,” which for two decades has been instrumental in driving hundreds of American corporations into supporting LGBT activists’ ever-evolving goals. When you read that a giant corporation has given a huge grant to a gay and trans organization, sponsored a libidinous "pride" parade, or floated an obnoxious, gender-bending TV ad, it may be in part because that company gets points in the Corporate Equality Index, or CEI, for doing so.

A promotional video from the Human Rights Campaign Foundation for its "Transgender Toolkit for Employers" — part of the CEI — speaks to the revolutionary nature of the organization’s work, which is all about radically changing social norms. The video features a man, Jacob, dressed in female attire with a girlish hairstyle, wearing red lipstick and nail polish, and large earrings. Identified as an "executive assistant" in New York, Jacob speaks about so-called "trans-inclusive" policies:

"You should be able to come to work and wear one thing one day that's sort of read as one gender, and then come to work the next day and wear something else that's perhaps read as a different gender," he says. "I should be able to just come to work one day in pants, and come to work another day in a skirt, and that shouldn't be seen as inconsistent. That should be seen as me just bringing my full self to the job. ... Transgender and gender non-conforming people are now a fundamental part of the fabric of the world around us."

Sexual immorality marketed as ‘equality’

But first, a little about the Human Rights Campaign, HRCF’s sister organization, which might more accurately be labeled (from a biblical perspective) the "Human Wrongs Campaign." HRC is the leading and best-funded homosexual-trans-bisexual-"queer" lobby group in the United States and, indeed, the world. Launched in 1980, it became the main professional Washington, D.C. lobbying arm of the Gay Revolution, growing steadily to the point where it reported total revenues exceeding $46 million in 2021.

HRC’s spokesmen claimed to respect religious rights and cloaked themselves in a veneer of moderation to build support in the media and power within liberal coalitions inside the Beltway. Ultimately, HRC became one of the most influential Democrat special-interest groups, so much so that every Democrat president and major Democratic presidential candidate since Bill Clinton has ventured to the swank, annual HRC fundraising dinners to show support for "gay" and then transgender "rights." HRC is now one of the most powerful PACs in D.C., with virtually all its campaign donations going to Democrats.

More than any other group, HRC "branded" the homosexual agenda, choosing an equal sign as its logo as it promoted innocuous-sounding euphemisms like "equality," "love conquers hate," and "love is love" to mobilize sentiment for its revolutionary crusade redefining civil rights and human morality. But behind the clever marketing, HRC was in solidarity with other “gay” militants, applying the same radical egalitarian model equating homosexual relationships to the traditional marital bond between husband and wife. Treating “gay” and now “trans” people different amounts to “hate” and “bigotry,” according to their formula. And HRC staffers have not shied away from using false narratives to build "gay" power and defame Christians, their main enemy.

For instance, in 1998, when Wyoming college student Mathew Shepard was murdered, HRC joined other homosexual activist groups in rushing to label the murder a "hate crime," and blaming faith-motivated conservatives (the “Religious Right”). With the media already stoking that simplistic angle, it was an easy and convenient lie to exploit and HRC raised a lot of money off the Shepard murder. Long after the propaganda and fundraising blitz ended, it emerged that Shepard was a meth user and dealer, likely was not killed "just for being gay" as the media mythology claimed, that he’d had sex on and off with his killer, who was also a drug addict and likely on a meth binge when the murder occurred. This and more were reported by gay writer Stephen Jimenez in his 2013 book, "The Book of Matt: The Real Story of the Murder of Matthew Shepard." But HRC and the entire "gay" lobby had profited off a vicious lie, which they and their corrupt "mainstream" media allies used to demonize people of faith.

Today, HRC’s radicalism is out in the open as it has stepped up its efforts to indoctrinate very young children, all the while claiming it is actually conservatives who are "launching a culture war against our kids." As the Washington Stand recently reported, "HRC has campaigned for public schools to indoctrinate children as young as kindergarten to affirm same-sex attraction, bisexuality, transgender pronouns, and gender fluidity."

A one-sided ‘scorecard’

In 2002, HRC launched the "Corporate Equality Index" through its research arm, Human Rights Campaign Foundation. CEI is a self-serving, one-sided corporate "scorecard" that scores companies from zero to 100 based on their subservience to LGBT activist agenda goals, and then ratchets up its criteria every two years to require stepped-up corporate pandering to merit a continued “perfect” score. Companies obsessed with "DEI" (Diversity, Equity, and Inclusion) compliance are able to boast of their perfect score under the HRC’s skewed ranking system, but then in subsequent years are continually pressured and manipulated into "upping" their embrace of ever-more-radical goals because, if they fail to do so, they will lose their 100 CEI score.

The anti-conservative CEI scorecard makes no pretense of objectivity in its quest for "queer equality in the workplace," as one HRC web posting describes it. The CEI even contains a punishment provision that essentially blocks compliant corporations from supporting Christian and pro-family groups opposed to the LGBTQ agenda: Any company found “guilty” of an anti-LGBTQ "blemish" will have 25 points deducted from its score.

The goal and manipulative genius of the CEI are to first push corporations to a 100-percent, "perfect" score, for which they are put on HRCF’s list of the "Best Places to Work for LGBTQ Equality." Then the corporation is effectively locked into the system with its ever-escalating demands perpetually; if it refuses, it risks being cast as a backslider that is less than fully LGBT “affirming.”

The following are among the corporations receiving perfect scores in the 2022 Corporate Equality Index:

American Airlines

Anheuser-Busch Companies Inc.

BlueCross BlueShield of Tennessee

CarMax Inc.


Clorox Co.

Coca-Cola Co.

Comcast NBCUniversal

Del Monte Foods, Inc.


Farmers Insurance Group

Federal Reserve Banks (Atlanta, Boston, Chicago, Cleveland, Dallas, Kansas City, Minneapolis, New York, Philadelphia, Richmond, San Francisco and St. Louis)

Fidelity National Information Services Inc.

Franklin Templeton Investments

GameStop Corp.

General Mills Inc.

GlaxoSmithKline LLC


Google Inc.

H&R Block Inc.

Hallmark Cards Inc.

Hannaford Supermarkets

Hanover Insurance Group Inc.

Hershey Co.

Hertz Global Holdings Inc.


Hyatt Hotels Corp.

IKEA Holding US Inc.

Iron Mountain Inc.

Johnson & Johnson

Kellogg Co.

Kohl's Corp.

Kroger Co.

Land O'Lakes Inc.

Liberty Mutual Group

Lowe's Companies Inc.

Marriott International Inc.

Mars Inc.

Mattel Inc.

McDonald's Corp.

Microsoft Corp.



Nestlé USA Inc.

Office Depot Inc.

Papa John's International Inc.

PepsiCo Inc.

Procter & Gamble Co.

RingCentral Inc.

S.C. Johnson & Son Inc.

Scotts Miracle-Gro Company

Shell Oil Co.

Sherwin-Williams Co.

Sirius XM Radio Inc.

Sony Corporation of America

State Farm Group

Target Corp.

Tesla Inc.

T-Mobile USA Inc.

Twitter Inc.

United Parcel Service Inc. (UPS)

Verizon Communications Inc.

Walgreen Co.

Walmart Inc.

Walt Disney Co.

Wendy's Co.

Yelp Inc.

Zillow Group

The 2023 CEI Criteria — the most radical to date

Jumping ahead to the newest array of Corporate Equality Index demands for 2023, the CEI has upped the ante in several areas, including demanding "equality" (read: radical egalitarianism) in LGBT "family formation." HRC is now demanding "equivalency in same- and different-sex domestic partner family formation benefits regardless of sex" (worth 10 points on the new scorecard). As the CEI report explains, under this more stringent formula, "the areas that will be assessed for equality include":

  1. "Adoption;
  2. Cryopreservation (egg freezing for non-medical reasons);
  3. Infertility treatment coverage (outside of in-vitro fertilization);
  4. Fertility/in-vitro fertilization coverage; and
  5. Surrogacy benefits."

This new set of radical demands takes "equality" to whole new levels. By treating adoption benefits for homosexual couples the same as for normal couples, CEI-compliant corporations will effectively provide financial incentives for the creation of same-sex households in which innocent children are left motherless or fatherless by design.

Straight couples receive infertility treatments because they cannot conceive children through natural, normally procreative sexual relations. In contrast, homosexual couples are by definition barren. No two people of the same sex can ever conceive children by themselves without resorting to heterosexual reproduction in some form.

This story was originally published by the WND News Center.

The anti-Christian social agenda in many parts of today's Western society is nowhere more evident than in the attacks on faithful who adhere to the biblical perspective that men and women are different, marriage is for one of each, and they don't change back and forth.

Look for evidence no further than the decade-long war the state of Colorado, which has been formally reprimanded by the Supreme Court for its "hostility" to faith, has waged against baker Jack Phillips, demanding he undergoes indoctrination programs, pays fines, and more because he refuses to abrogate his faith.

In the United Kingdom, society has gone even further, to the point of arresting and charging those Christians who decline to call a man a woman just because he's wearing a dress.

But now there's been a court case result that could be the beginning of a tsunami: A court has overturned a Christian's conviction for calling a man in a dress – a man.

The details are from The Christian Institute, which represented David McConnell, 42, from Wakefield.

He had been convicted, but on appeal, the court ruled prosecutors failed to prove their case.

The court said his "misgendering," calling a man a man, did cause distress, however, the ruling said, "it is not an offense to insult someone."

Further, the court said under the Public Order Act, a law often used to attack Christians, "it is not enough to show words were insulting and that [someone] was distressed. They must prove that we as a bench are sure that when [McConnell] was using those words he intended to cause distress."

Prosecutors, in fact, even had reported McConnell to Prevent, the nation's terrorism monitoring organization.

The Christian Institute said McConnell had been convicted of "misgendering" a man who called himself a woman and wore a dress for attire.

"Prior to the arrest, Dave had been assaulted, abused, and had his belongings stolen while he was preaching. He was subsequently convicted at the Magistrates Court, made to pay costs of £620, and forced to do 80 hours of community service despite there being no legal obligation to use a trans person’s preferred pronouns in the UK," the report said.

It was after the conviction that authorities reported him to their Joint Counter-Terrorism Team.

"It is believed Dave is the first street preacher to be convicted for such an offense and reported as a potential 'terrorist,'" the report said.

The case, on appeal, was before recorder Anthony Hawks and judges.

McConnell explained he wasn't "misgendering," but simply was "telling the truth."

"I think people could have been offended but that’s not the intention. My intention was to simply stay faithful to my beliefs, stay faithful to God, and to stay faithful to my conscience," he said.

McConnell said, "I am delighted and relieved that the judge has overturned the conviction and that I can clear my name. I am, however, appalled at how I have been treated by the authorities in this matter. No other street preacher, professional, or member of the public must go through what I have. "

Andrea Williams, chief executive of the Christian Legal Centre, which worked with McConnell, explained, "This case has represented a disturbing trend in our society which is seeing members of the public and professionals being prosecuted and reported as potential terrorists for refusing to celebrate and approve LGBTQ ideology."

This story was originally published by the WND News Center.

The recent failures of big banks in America are not because the system is failing.

It's not because there's an overall banking crisis.

It's not because there aren't enough bank regulators.

It's because of Joe Biden's inflation and his spending of trillions of dollars.

That's according to an analysis by Steve Moore, the chief economist at FreedomWorks, who talked about his conclusions in an interview with Fox News.

Two banking corporations failed on Friday and over the weekend, and analysts have linked their problems to their investment in low-interest bonds, and the subsequent push to make interest rates higher in an effort to tamp down the inflation that has developed under Biden's economic policies.

"I agree with the president that we don't have an overall banking crisis," Moore explained. "The system is sound, but I do think you have a lot of major banks that are in some trouble.

"And SVB, the Silicon Valley Bank, may just be the tip of the iceberg here," he said.

He explained it is "important for people to understand how this potential banking crisis happened. It's not because there aren't enough bank regulators, as Biden is trying to say. It's because of the massive inflation and the trillions and trillions of dollars of borrowing that the federal government has done that has put our financial system in great jeopardy and great peril."

Moore explained Americans "can't just keep doing this" over and over, "borrowing trillions and trillions of dollars."

What has happened, he noted, "because of the Biden spending and debt policies, is that not only did inflation go up, but interest rates have gone up."

The Federal Reserve, in fact, has raised interest rates nearly a dozen times in recent months.

Biden has claimed that Americans can be "confident" in their banking system because of his response to the failures of Silicon Valley Bank and Signature Bank in recent days.

Federal officials said bank customers' accounts will be protected, although those who invested in the bank will not be.

And he claimed that taxpayers won't be on the hook to pay for the losses.

"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," he said.

This story was originally published by the WND News Center.

Joe Biden triggered massive inflation across America when he was elected by launching a war against its own energy industry. Gasoline prices soon were $6 a gallon in some cities and his own administration confessed that the prices were going up by more than 9%.

The Federal Reserve responded with huge interest rate increases to try to tame the damage being done to the economy, and what followed was the failure of at least two banks heavily invested in lower rates.

But it's all President Trump's fault, Biden himself is claiming.

According to the Daily Wire, he is claiming that his administration's "quick action" has left the highly volatile banking industry stabilized.

"Your deposits will be there when you need them. Small businesses across the country that deposit accounts at these banks can breathe easier knowing they’ll be able to pay their workers and pay their bills," said Biden, promoting plans he says he's undertaking. "And their hardworking employees can breathe easier as well."

He continued, "During the Obama-Biden administration, we put in place tough requirements on banks like Silicon Valley Bank and Signature Bank, including the Dodd-Frank law to make sure the crisis we saw in 2008 would not happen again."

He then blamed President Trump for having "rolled back some of these requirements."

Fox News reported, however, that the legislation making those changes actually was a bipartisan effort from Congress.

Even so, former Labor Secretary Robert Reich claimed, "By the way, Trump deregulated banks like Silicon Valley Bank, which failed Friday.

Other liberals joined him.

"It seems likely that this could have been avoided if it weren't for the roll-backs by the Trump administration," journalist Ed Krassenstein claimed on social media.

Another member of the media, David Sirota of The Lever, said, "Quick reminder: 50 Republican senators and 17 Democratic senators voted to ignore warnings and weaken risk regulations for Silicon Valley Bank. Donald Trump signed the bill into law. And now the bank is the 2nd biggest bank collapse in American history."

Internet commenter Jeff Tiedrich charged: "Donald Trump slashed banking regulations and a major bank failure. if only we could find some common thread linking these events."

The facts, however, were explained by EJ Antoni, a research fellow at The Heritage Foundation’s Center for Data Analysis.

He told Fox Business the recent bank troubles had "nothing" to do with Trump or Dodd-Frank.

There were other circumstances involved, he said.

That's because the bank was dealing "almost exclusively with tech firms which usually rely on continuously rolling over large debts."

He explained that's when companies take out new loans to pay off debt and often don't pay off their liabilities fully at any point.

He told Fox, "Second, SVB put a disproportionate amount of its cash into long-term bonds. Ordinarily, that’s not a bad strategy, but it's unwise when interest rates are zero because those rates must rise eventually. When rates rise, bond prices fall. This is because an investor with the choice to buy an existing bond at a low rate or a new bond at a high rate will choose the new bond since it’s a better return on investment. If you want to sell the old bond with its lower interest rate, you must be willing to sell it at a discount; otherwise, no one will buy it."

Then, he pointed out, SVB's clientele, which largely lacked any significant diversity, all needed cash at the same time.

Biden's claims came after Silicon Valley Bank held a $1.75 billion share sale following huge losses from the liquidation of a $21 billion bond portfolio.

The bank actually was closed by the California Department of Financial Protection and Innovation.

Federal officials said depositors' money would be protected.

The criticism of Trump, however, was met with a recitation of facts.

Journalist Glenn Greenwald, for instance, pointed out, "Biden has been president for more than 2 years. His appointees control all regulatory agencies. Until 2 months ago, Democrats controlled both houses of Congress. "So whose fault is this week's collapse of the Silicon Valley Bank? Obviously: Trump's (probably Putin's, too)."

Steven Cheung, a spokesman for Trump's 2024 campaign, said, "Out of control Democrats and the Biden administration have continued to pathetically try to blame President Trump for their failures with desperate lies, such as the CCP spy balloons, the train derailment in East Palestine, and now the collapse of SVB. This is nothing more than a sad attempt to gaslight the public to evade responsibility. The fact is that Biden has presided over a catastrophic economy that has devastated everyday Americans and has caused misery across the country due to his anti-America policies."

The Daily Caller News Foundation said GOP candidates commented on the bank collapse under the Biden administration.

GOP presidential candidate Vivek Ramaswamy said, "Silicon Valley is pushing the idea that SVB depositors need to be rescued to prevent a run on other banks. Wrong. If you want to prevent a run on other banks, increase the FDIC guarantee. But SVB screwed up by utterly failing to take interest rate risk into account, in two ways – both in terms of client concentration risk amongst startups and investing in interest rate-sensitive securities. So did the many startups who blithely did business with them. It’s not the U.S. taxpayer’s job to now coddle them."

GOP candidates also pointed out that just a year ago, SVB talked about its investment of $5 billion with "sustainability" efforts.

Former South Carolina Gov. Nikki Haley added, "Taxpayers should absolutely not bail out Silicon Valley Bank. Private investors can purchase the bank and its assets. It is not the responsibility of the American taxpayer to step in. The era of big government and corporate bailouts must end."


The Daily Caller News Foundation also noted Ramaswamy put blame on the Federal Reserve.

He said it "has made deep-seated mistakes in this country over the last several decades by trying to play God. The problem is, they’re not God and they’re playing God with fat fingers and they’re not even getting it right trying to optimize for employment and inflation.

This story was originally published by the WND News Center.

An investigative reporter has revealed a link between Janet Yellen, who is Joe Biden's treasury secretary, and the recent collapse of Silicon Valley Bank.

The bank serving mostly tech startups was shut down on Friday after failing, while Biden and others promised no depositor would be forced to bear losses.

It is Paul Sperry, a New York Post columnist and longtime Hoover Institute media fellow, who posted his discovery on social media.

Under a "Developing" alert, he explained, "Fed Reserve Bank of SF that missed massive red flags @ SV Bank run by openly gay diversity quota & Janet Yellen protege Mary Daly who focused more on 'climate change and inequities' than regulating rogue banks like SVB. Also chairs SF Fed Diversity & Inclusion Council…"

One commenter said, online, "This is what happens when elections are stolen," and another said, "Fire them all and make them cover the losses."

Yellen previously served on the Fed.

A report at Twitchy, which monitors and comments on the social media site, pointed out, "Remember when Adam Schiff got Paul Sperry kicked off Twitter for reporting inconvenient stuff? Yeah, this developing story from Sperry definitely feels like something ol' Schiff For Brains wouldn't want out there because it definitely makes it very difficult to keep playing the 'Trump did it" card."

The report explains Yellen's protégé, Mary Daly, "was too busy playing politics and pushing woke agendas to regulate rogue banks like SVB… How every interest."

According to Business Insider, Elon Musk suggested on Friday that he was "open to" buying Silicon Valley Bank (SVB) after its recent collapse. 

The Tesla CEO and Twitter owner indicated as much after the suggestion was made to him by Min-Liang Tan, who, according to Business Insider, is the "co-founder and CEO of Razer, a company that sells gaming computers."

"I think Twitter should buy SVB and become a digital bank," Min-Liang Tan wrote, to which Musk replied, "I'm open to the idea."

While there were many Twitter users who were also open to the idea of Musk buying SVB, others weren't - particularly if Musk would have to sell a bunch of Tesla stock to do so.


It was on Friday that SVB collapsed. Greg Becker, the chief executive of the SVB Financial Group, announced the collapse in a video that he sent out to employees.

In the video, Becker, "with an incredibly heavy heart," said:

I want to acknowledge how hard the last 48 hours have been on all of you. I care so much about all of you. It really is so incredibly difficult. I am trying to look past to focus on two things. 1.) I am focusing on you and thinking about the ultimate outcome of what this could be despite this incredibly difficult time. And 2.) I'm focusing on clients.

Fox Business reports that SVB, up until its close by the Federal Deposit Insurance Corporation (FDIC), was the "16th-largest bank in the U.S., marking the worst U.S. financial institution failure since the Great Recession 15 years ago."

SVB wasn't the only bank collapse.

On Sunday, the New York-based Signature Bank also collapsed. And, with $110 billion in assets, this is reported to be the third-largest bank failure in U.S. history.

The U.S. government steps in

After the two banks failed, the federal government decided to take action on Sunday.

The Associated Press reported:

In an effort to shore up confidence in the banking system, the Treasury Department, Federal Reserve and FDIC said Sunday that all Silicon Valley Bank clients would be protected and able to access their money. They also announced steps that are intended to protect the bank’s customers and prevent additional bank runs.

This comes as many financial experts warned that dire consequences could result if the government does not take such action.

The government agencies' plan will allow SVB depositors to access their money.

Additionally, the Federal Reserve has announced an emergency program designed to prevent more bank collapses.

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