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Populist Fury Grips Congress in Echo of 2008’s Bailout Backlash

Populists on both sides of the partisan divide in Washington can agree on one thing: They don’t like last weekend’s rescue of Silicon Valley Bank depositors and want to prevent anything like it from happening again.

Republicans and Democrats differ on exactly how the US government should respond to the failure of three regional US banks and to the prospect of further financial industry turmoil fueled by troubles at Zurich-based Credit Suisse Group AG. If the contagion spreads, the backlash suggests strong resistance in Congress to any further intervention. 

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 16.03.2023

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