Buffett and Biden Discuss Banking Crisis and Bailouts

Warren Buffett has been in contact with President Biden's team to offer assistance during the current banking crisis, with talks centering around the possibility of Buffett investing in the US regional banking sector. The billionaire investor has a history of stepping in to aid banks in crisis, including Bank of America and Goldman Sachs. US regulators have unveiled extraordinary measures to calm customers, promising to fully pay out uninsured deposits in failed banks, with big US banks voluntarily depositing $30 billion to stabilize First Republic Bank this week. The crisis began when Silicon Valley Bank was shut down by the FDIC a week ago as regulators moved to protect customers following a $2 billion loss.