"The economic policy of President Biden has formed conditions that led to large losses for Silicon Valley Bank (SVB) and, ultimately, to its bankruptcy," RIA Novosti quoted Gosar as saying.
According to him, SVB invests most of its deposits in mortgage-backed securities and bonds.
He noted that this was reasonable with low interest rates, but when the "Bidenflation" began to spiral out of control, the Fed raised them.
Us Treasury Secretary Janet Yellen previously noted that the US administration considers it extremely likely that after the bankruptcy of a number of banks, other American credit and financial organizations may also be recognized as insolvent and will face massive withdrawal of funds from their accounts by their customers.