Staff Reports
Bernie Marcus, co-founder of The Home Depot and a prominent conservative, recently went off on President Joe Biden and his liberal policies amidst the recent banking crisis. In an interview with Fox, Marcus expressed his displeasure with the current administration and their handling of the economy.
? Ex-Home Depot CEO Bernie Marcus Blames Biden’s Woke Policies for SVB
“I think that the Administration has pushed many of these banks into more concern about global warming than they do about shareholder return” pic.twitter.com/UQhle3ad2K
— Chief Nerd (@TheChiefNerd) March 12, 2023
Marcus criticized Biden’s proposed tax hikes on the middle class and the rich, calling it “as dumb as [he’s] heard in a long time.” He also expressed his dismay at the recent collapse of Silicon Valley Bank, which was not bailed out by the federal government.
Janet Yellen on whether the SVB collapse could lead to other bank failures and spillover into the economy:
“We want to make sure that the troubles that exist at one bank don't create contagion to others that are sound.” pic.twitter.com/Wxs4Ne8uHl
— Becker Clips (@NewsBecker) March 12, 2023
Marcus believes that the Biden administration has pushed banks to prioritize social policies over shareholder returns, and that this is why the bank failed. He believes that this is a sign that the economy is in trouble, and that Biden’s promises of economic growth are not true.
Marcus also expressed his anger at the bank officials who sold off their stock before the collapse, saying it was “depressing” that they would get away with it. He believes that people are struggling and can’t pay their bills, and that the government should be doing more to help them.
The Biden administration responded to the banking crisis by releasing a press statement promising to give a speech tomorrow morning to “strengthen confidence” in the banking system of the United States. However, Bernie Marcus believes that this is not enough, and that the government should be doing more to help those affected by the crisis.
