Senator Warner: Banks “Shouldn’t Expect Any Kind Of Bailout”

(DC)- Virginia Senator Mark Warner welcomed a move by the federal reserve and other major government authorities to guarantee the deposits of customers at two major banks that suddenly collapsed this week. Warner said the treasury and fed acted “swiftly and responsibly to protect depositors and make sure the financial system remains stable.” Warner says bank shareholders and bondholders shouldn’t expect any kind of bailout by the taxpayers.