On Newsmax, Rudy Giuliani calls SVB a “Democrat bank”
Published
Citation From the March 13, 2023, edition of Newsmax's Eric Bolling: The Balance
ERIC BOLLING (HOST): Well, let's talk about that a little bit, Mr. Mayor. So, as Silicon Valley Bank basically had a old style, 1930s-style run on the bank, the type that you saw from It's a Wonderful Life, the – you know, where Mr. Potter was, you know, was driving his competition out. It was kind of like that, and it was inspired by social media. There are couple of Twitter players who said, be careful of that bank. All of a sudden, there's a run for their assets. Not necessarily that they weren't a profitable bank. But here's the question. So, Federal Deposit Insurance Corp, FDIC insures all depositors up to $250,000. Now they've said, the government stepped in and said, we're going to ensure all depositors. Forget the 250 limit. We're going to break the rules here and insure everyone. So, for example, Roku had $500 million in the bank, they're getting FDIC insurance. You know, they're not calling this a taxpayer bailout, but it certainly is a bailout of sorts. Is it not?
RUDY GIULIANI (GUEST): It is a taxpayer bailout. So Roku decided to put money in a bank that would rather waste money on useless, irresponsible, non-proven green programs that costs enormous amounts of money. That accomplished nothing because China doesn't do anything to deal with the climate. And you might not put money in that bank and I might not because we think that is the most foolish kind of waste of money, but we have to pay for it. We have to pay for their political choice. So this is a -- I'm not talking about Signature, now. I'm talking about SVB. This is a Democrat Bank. It's a woke bank. And it's a bank that makes choices based on their cult religion, as opposed to pure economics.