President Biden's recent banking sector intervention has sparked debate, with the administration emphasizing its aim is to stabilize the economy rather than a bailout. This approach is informed by the negative public reaction to the 2008 financial crisis.
The White House frames the intervention as a way to protect jobs and small businesses, not as a bailout.
The administration is keenly aware of the negative public perception of bailouts from 2008.
Republicans are criticizing the intervention, framing it as a bailout and linking it to broader economic anxieties.
The biggest risk for the Biden administration is seen as doing too little, which could lead to wider bank failures.
President Joe Biden brands the latest banking aid as a lifeline for jobs and small businesses, San Joaquin Valley residents assess storm damage and Imran Khan supporters gather in Lahore, Pakistan.Learn more about sponsor message choices: podcastchoices.com/adchoices)NPR Privacy Policy)