2024 Republican presidential candidate Vivek Ramaswamy criticizes the Biden administration for bailing out Silicon Valley Bank (SVB) during an interview with Tucker Carlson on Fox News.
Ramaswamy argues that the bailout was a rescue of Silicon Valley itself, as many tech startups made disastrous financial decisions and invested in SVB, which led to a bailout from the government.
Ramaswamy also highlights the carried interest loophole that benefits those who deposited over $250,000 in SVB and pays a lower tax rate.
He claims that this bailout perpetuates a two-rule system in the country and encourages crony capitalism.
Ramaswamy suggests that the government’s action may lead to social credit scoring and Central Bank digital currencies, which every Republican and American should resist.
Ramaswamy also advocates for a grassroots uprising against Silicon Valley’s one-sided agenda.