Fox News hosts Steve Doocy and Brian Kilmeade debated over Donald Trump’s revelation that he wouldn’t have supported the government’s intervention after the collapse of Silicon Valley Bank.
Doocy and Kilmeade were co-hosting Fox & Friends on Tuesday as they reacted to Trump’s interview the previous night with Sean Hannity. Amid Trump’s attacks on his political foes and defenses of his conduct, the former president blamed SVB’s implosion on high-interest rates while saying, “I wouldn’t have supported the bailout.”
While there has been a public debate about whether this was a bailout in the usual sense, Doocy called it “disturbing” to hear Trump wouldn’t have backed it.
“If you remember when Silicon Valley Bank was imploding, there was a run on the bank,” Doocy said. “Had the [Federal Deposit Insurance Corporation] not stepped in to guarantee the loan — whatever the account was — there would have been a run on every bank in America. So, you know, for the former president to say I just would have let it spin, that is a problematic problem…”
Kilmeade countered by citing Kevin O’Leary’s bailout opposition, even though O’Leary also kept money with SVB.
“He said let the regional banks die,” Doocy replied. “But for the former president to say he would not have stepped in to stop that, that’s troubling.”
“Well, it could be troubling, or it could be a good, solid policy,” Kilmeade pushed back. “People look at the San Francisco Fed…They saw the CEO on the San Francisco Fed board at the same time ignore the problem, and then they see him cash in $3.4 million, and then they watched him go on vacation. And there is a lot of people who say maybe Trump is right.”
Doocy responded by maintaining his view that the government’s intervention prevented a broader run on the banks from happening.
Watch above via Fox News.
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