McEnany: White House Narrative Is Wrong – It’s Not Biden Saved the Day, It’s Biden Caused the Problem

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Fox News host Kayleigh McEnany argued on Tuesday’s “Outnumbered” program that the White House is trying to position President Joe Biden as saving the day by bailing out Silicon Valley Bank, but his policies contributed to the bank’s failure in the first place.

“The monetary policy and the decisions of the federal government cannot be insulated,” McEnany said.

She noted that Biden tried to blame a 2018 law, passed with bipartisan support during the Trump administration, as the reason SVB failed.

But The Wall Street Journal editorial board and others have agreed that the regulation changes made to the Dodd-Frank Act regarding mid-sized banks were not the cause of SVB’s failure — poor management in the Biden economy was.

McEnany said the White House press office appeared to be planting stories in left-leaning news outlets like Axios and Politico to paint a picture of the president saving the banking system.

Axios ran a story titled “Inside Biden’s SVB move to stop future bank runs” on Tuesday, she pointed out, while Politico published one headlined “How Biden saved Silicon Valley start-ups: Inside the 72 hours that transformed U.S. banking.”

“These headlines don’t come about by chance,” the former Trump White House press secretary said, explaining that the Biden administration doesn’t “want to look like they are giving taxpayer dollars to these rich Silicon Valley execs.”

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