Em Nguyen - ABC News _ March 13, 2023 - KRDO’s Afternoon News

President Biden this morning told Americans the nation's financial systems are safe, seeking to project calm following the swift and stunning collapse of two banks that prompted fears of a broader upheaval.

"Your deposits will be there when you need them," he said.  The president, speaking from the White House shortly before a trip to the West Coast, said he'd seek to hold those responsible accountable, and pressed for better oversight and regulation of larger banks. And he promised no losses would be borne by taxpayers. Biden also said management of the banks should be fired. "If the bank is taken over by the FDIC, the people running the bank should not work there anymore," he said, referring to the Federal Deposit Insurance Corp., the agency responsible for ensuring the stability of the banking system.