Treasury Secretary Janet Yellen said the U.S. government will not bail out Silicon Valley Bank. “The reforms that have been put in place means that we’re not going to do that again,” Yellen told CBS’ “Face the Nation.” Regulators shuttered Silicon Valley Bank and seized its deposits Friday after depositors withdrew more than $42 billion by the end of the day Thursday.
After regulators shuttered Silicon Valley Bank and seized its deposits Friday, U.S. Treasury Secretary Janet Yellen said Sunday that she has been working “to address the situation in a timely way,” but that a major government bailout is not on the table.
“Let me be clear that during the financial crisis, there were