| Are taxpayers on the hook for bank bailouts? |
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| News |
| Written by The Hill Press |
| Friday, 17 March 2023 14:39 |
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WASHINGTON, DC - While the White House says taxpayers will not be on the hook following two recent bank collapses, Republicans say these financial failures could impact every American with a bank account. Republicans at Capitol Hill on Thursday were warning that Americans won’t be immune to the second-largest bank collapse in U.S. history. According to the Federal Deposit Insurance Corporation (FDIC), 561 banks failed between 2001 and 2022. No one has lost money since 1933 due to a bank failure. But that’s not stopping some Republicans from warning to the contrary. |
| Last Updated on Friday, 17 March 2023 17:02 |
No one has lost money since 1933, but many worry that coming to the aid of the banks won’t put a stop to future risky banking.