Republican presidential candidate Vivek Ramaswamy appeared on Sirius XM’s Breitbart News Saturday and declared he is firmly against a bailout for Silicon Valley Bank (SVB), which he called “one of the biggest evangelists of DEI and ESG.”
Ramaswamy, who told Breitbart News Washington Bureau Chief Matthew Boyle that the 2008 financial crisis informed much of his economic policy, rejected the idea of a taxpayer-funded bailout after customers withdrew $42 billion in a massive run this week.
“I want to be early because you’re gonna hear the calls for bailouts coming real soon here. I’m against a government bailout,” said the 37-year-old entrepreneur who has founded multiple biotech start-up companies worth multi-billion dollars. “And you know what, we don’t learn the lessons we should have learned, then you keep making the same mistakes all over again.”
“The Federal Reserve, for 15 years, has been raining money from on high like manna from heaven,” Ramaswamy told Boyle while speaking via phone before a live audience in southwest Ohio. “We’ve been skiing on artificial snow. Now the snow machine turns off, and within less than a year, you’re seeing the banks fail because they don’t know how to ski on anything other than artificial snow. I’m talking about money being pumped into the system.”
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