Former White House Press Secretary Jen Psaki said Monday that President Joe Biden usually “does nothing at 9 a.m.,” when discussing Biden’s Monday morning remarks on the collapse of Silicon Valley Bank, and applauded the president for waking up early.
“What he needs to project to the public is, ‘We’ve got this, we have a plan, we made decisions. We are addressing this,’” Psaki, an MSNBC host, said. “That’s what people need to hear from him. It is important to know that President Biden does nothing at 9:00 a.m., he is a night owl.” (RELATED: ‘Feds Broke It’: Observers Melt Down After Major Bank Collapses Overnight)
“The fact he is doing this at 9 a.m. anyway speaks to how vital the White House recognizes this is to have his voice out there, conveying it to the American public,” Psaki added.
Biden addressed the collapse of Silicon Valley Bank Monday, saying that customers of Silicon Valley Bank and Signature Bank would “have access to their money” and that taxpayers would not be on the hook. The FDIC shut down Signature Bank Sunday, citing “systemic risk,” CNBC reported.
Some social media posts noted that Biden was portrayed as a person with an “early-to-bed” routine in a February 2021 CNN report.
Federal regulators shut down Silicon Valley Bank Friday after its stock price collapsed and customers began a bank run following the financial institution’s disclosure of a $1.8 billion loss on asset sales due to high interest rates, CNBC reported. The British bank HSBC announced it would buy the UK arm of Silicon Valley Bank for one pound Monday.