Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Shamkhani to Al Mayadeen: There is no mention of lifting sanctions in the latest US proposal, even though this issue is fundamental for Iran
Ali Shamkhani, political advisor to the Leader of the Islamic Revolution and the Islamic Republic of Iran, to Al Mayadeen: After receiving the American proposal, we are now preparing our new proposal
Shamkhani to Al Mayadeen: Iran will never give up its inherent rights
Iranian Defense Minister to Al Mayadeen: Israeli threats to Iran are just pointless nonsense
Iranian Defense Minister to Al Mayadeen: Those who actually possess the power and ability to threaten Iran do not speak as such; they are simply incapable of doing so
Iranian Defense Minister Aziz Nasirzadeh to Al Mayadeen: Iran possesses enough power to render 'Israel' incapable of threatening it
Hezbollah chief Sheikh Naim Qassem after meeting with Iranian FM Abbas Araghchi emphasized the importance of Iran’s positive role in the region and its support for the Palestinian Resistance and its people
Iranian FM Abbas Araghchi after meeting with Hezbollah chief Sheikh Naim Qassem: Iran is keen to assist Lebanon and stand by its side economically and politically, on the basis of mutual respect
Iranian Foreign Minister Abbas Araghchi met with Hezbollah Secretary-General Sheikh Naim Qassem, during which they discussed regional developments
Al Mayadeen’s correspondent in Gaza: The death toll from the Israeli massacre targeting a tent sheltering displaced persons inside a school west of Khan Younis has risen to 14

US politicization is the problem: CNN

  • By Al Mayadeen English
  • Source: CNN
  • 14 Mar 2023 16:41
4 Min Read

The main issue in the US is the hyper-politicized reaction to the drama in Washington.

  • x
  • President Joe Biden meets Australian Prime Minister Anthony Albanese at Naval Base Point Loma, Monday, March 13, 2023, in San Diego. (AP)
    President Joe Biden meets Australian Prime Minister Anthony Albanese at Naval Base Point Loma, Monday, March 13, 2023, in San Diego. (AP)

The collapse of Silicon Valley Bank has proven one thing for certain: the United States' greatest systemic risk is not in its banking system but in its polarized politics.

The Biden administration's frantic effort to help the California bank appears to have been effective. On Monday, there was no bank run because the federal government chose to guarantee deposits at SVB and another failed bank, though future failures cannot be ruled out.

However, the hyper-politicized reaction to the drama in Washington and on the Republican 2024 campaign trail, in which key figures twisted the situation to further predetermined political goals, indicated that if a true financial crisis does erupt, it may be beyond the government's ability to fix it.

How secure is the banking system? 

Several prominent Republicans, led by Florida Gov. Ron DeSantis, a potential White House candidate, swiftly blamed the bank's failure on a supposed obsession with "woke" socially progressive investments rather than its questionable financial strategy.

Other Republicans, such as former South Carolina Gov. Nikki Haley, a declared 2024 candidate, chose to open a new front in the perennial conservative-liberal debate over the role of government in the economy.

“Joe Biden is pretending this isn’t a bailout. It is,” Haley said on Monday. 

Furthermore, two previous Democratic presidential candidates, Massachusetts Senator Elizabeth Warren, and Vermont Senator Bernie Sanders have renewed their calls for increased banking sector regulation. And when trouble arises, some Democrats, including President Joe Biden, have turned to an increasingly common gambit: blaming it on Trump and his regulatory purges, according to CNN. 

Related News

Ukraine’s role at NATO’s The Hague summit in Limbo: AFP

US, Israeli airstrikes on Yemen to be probed as war crimes: HRW

Read next: US survey: 40% of Americans expecting civil war within decade

The SVB debacle is not the first time in recent weeks that a catastrophe has been followed by a bitter and polarized blame game within hours.

The derailing of a freight train in Ohio last month sparked an organized GOP effort against Transportation Secretary Pete Buttigieg, a former and potentially future Democratic presidential candidate. Democrats, for their part, blamed Trump's regulation rollbacks, according to CNN. 

While the former president's loose rules may make accidents more likely in general, the regulations in issue do not appear to have applied to the train that derailed in East Palestine, Ohio. Such differences, however, would be lost in campaign rhetoric. The trend repeated itself in February when a suspected Chinese spy balloon floated across the United States.

The crisis revealed deep divisions among US leaders and prompted yet another blame game, raising doubts about Washington's ability to agree on a coherent policy on the most pressing foreign policy issue of the century: a brewing Cold War with China, according to CNN. 

Growing US divide on country's future

Earlier this year in January, a CBS News/YouGov poll showed that most US citizens are deeply concerned about the country's future under President Joe Biden in 2023.

71% of Americans said they are "scared" or "angry" about the country's course in 2023. 49% indicated they are "scared," while 22% said they are "angry". Only 11% stated they were "enthusiastic". Only 7% say things are doing very well under Biden's leadership. 30% stated things aren't going well.

On the economic situation, 56% of respondents believe Biden's economy is deteriorating. Only 21% believe things are improving.

It is worth noting that Bloomberg has recently estimated that inflation will cost American households an extra $5,200, or $433 per month, in 2022. According to Moody's, such a figure would be $5,520 per year.

Respondents also said that Congress' main priority should be to control inflation (76%), reduce crime (63%), and move toward American energy independence (54%).

Read next: US' most polarized Midterm Elections

  • United States
  • Washington
  • Silicon Valley bank
  • California

Most Read

Lebanon's PM Nawaf Salam meets with US envoy Morgan Ortagus in Beirut on April 5, 2025 (Dalati Nohra via AP)AP)

Morgan Ortagus to exit US role in Lebanon amid policy shift

  • Politics
  • 1 Jun 2025
Spokesperson for the Yemeni Armed Forces, Brigadier General Yahya Saree, announces a new operation against Ben Gurion Airport on May 29, 2025 (Yemeni Military Media)

Yemen announces successful hypersonic missile strike on Ben Gurion

  • Politics
  • 30 May 2025
An Israeli army vehicle moves in the Gaza Strip as seen from southern occupied Palestine, Thursday, May 29, 2025 (AP)

Hamas rejects Witkoff ceasefire plan, says alters terms

  • Politics
  • 29 May 2025
It may well be due to the longstanding relationship between MI6 and HTS, via Inter Mediate, that Britain was the first Western country to recognise their assumption of government in Syria. (Al Mayadeen English; Illustrated by Zeinab El-Hajj)

How MI6 helped HTS seize Syria

  • Opinion
  • 31 May 2025

Coverage

All
War on Gaza

Read Next

All
Iranian Foreign Minister Abbas Araghchi, center, lays a wreath at the tomb of martyred Hezbollah leader Hassan Nasrallah in the southern suburbs of Beirut, Lebanon, Tuesday, June 3, 2025 (AP)
Politics

Iran's Araghchi visits Lebanon, honors martyr Sayyed Nasrallah

Israeli occupation forces inspect the site where the Israeli occupation forces said a projectile fired by Ansar Allah landed in the area of Ben Gurion International Airport near Tel Aviv, occupied Palestine on Sunday, May 4, 2025 (AP)
Politics

Yemen ready to strike 'Israel' around the clock, says defense minister

In this photo released by the Iranian Presidency Office, President Masoud Pezeshkian steps out from his plane as he arrives at Muscat, Oman, on May 27, 2025. (Iranian Presidency Office via AP)
MENA

Pezeshkian: No talks under pressure or bullying

In this Thursday, April 21, 2016 photo, cattle graze by an Israeli military APC in the occupied Golan Heights, Syria (AP)
Politics

Pastoral settlement, new weapon for displacement in West Bank

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS