President Joe Biden addressed the nation to reassure Americans that the banking system is safe after the collapse of Silicon Valley Bank and Signature Bank with plans to prevent a banking disaster.

When the global financial crisis hit in 2008, then-Vice President Joe Biden was thrust into the role of crisis manager. He was tasked with preventing the collapse of the banking system and steering the country through the recession.

Biden’s decisions during that time were crucial in preventing another major banking crisis. He helped craft the laws that regulated the financial sector and protected consumers. He also pushed for stricter rules on Wall Street.

As a result of Biden’s efforts, the banking system is now stronger and more resilient. And the country has avoided another major economic crisis.