Biden calls for tougher sanctions for bank executives

Biden issued a written statement on the subject. Stating that they took steps to stabilize the banking system this week after the country’s bankruptcies, Biden noted that taxpayers will not be able to cover any losses.

“Our banking system is more resilient and stable today because of the actions we have taken,” Biden said. He said that Americans can access their deposits whenever they want.

Stating that “those responsible for this mess must be held accountable,” Biden said executives should be held accountable for bankruptcies due to mismanagement and excessive risk-taking.

“Congress should act to impose tougher penalties on top bank executives whose mismanagement contributed to the failure of their institutions,” Biden said. he used the phrase. (AA)