Fmr. Obama Treasury Official: 'Large Corporations' Who Banked with SVB Getting a Taxpayer 'Bailout' After Fed Failed to Oversee SVB

On Monday's "CNN Newsroom," Deputy Assistant Secretary for Economic Policy at the Department of Treasury during the Obama administration and Brookings Institution Senior Fellow Aaron Klein stated that there were bailouts of the depositors of Silicon Valley Bank (SVB) and Signature Bank using taxpayer money because "when the FDIC loses money, it hits the government's debt and the government's balance sheet." And that the bailouts of "large corporations" who had deposits with SVB come in the wake of the Federal Reserve failing to exercise its regulatory power.