From WSJopinion: Without fail, and no matter the industry, the Biden administration has hooked businesses on Washington handouts while attaching conditions that put taxpayers and consumers on the hook, writes Allysia Finley
Journal Editorial Report:The week's best and worst from Kim Strassel, Bill McGurn, Joe Sternberg and Dan Henninger. Images: AP/Zuma Press/Reuters Composite: Mark KellyWhen liberals look back on the Biden presidency, they may hail its greatest accomplishment as ushering in a new era of corporate government dependency.
The latest example is the banking panic. The 2010 Dodd-Frank Act provided an implicit taxpayer guarantee for the country’s largest banks. With Silicon Valley Bank’s collapse, midsize banks are now arguing they’re also too big to fail and the Federal Deposit Insurance Corp. to guarantee all uninsured deposits for two years to prevent more bank failures. In other words, they want the government to backstop poorly managed banks.
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