Joe Biden. Photo: AP.
Axios does not exclude that the bankruptcy of Silicon Valley Bank, one of the leading lenders to Silicon Valley's technology enterprises, will lead to the fact that customers will begin to massively withdraw deposits from other banks and all this will lead to to the collapse of the entire US banking system.
«President Biden faces a catastrophic banking crisis,» the publication notes.
The publication believes that this will happen if the authorities do not organize a deal to save depositors Silicon Valley Bank.
IT companies are unable to pay salaries to employees due to the fact that their money was frozen in the accounts of a collapsed bank.
In 2008, after the collapse of Lehman Brothers, there was a large-scale banking crisis in the United States, and many analysts fear a repeat of this situation even now.
Entrepreneur Elon Musk said he was ready to discuss buying the bankrupt SVB. Perhaps he will become the superhero who will save the US banking system.