A financial panic like the one that struck several U.S. banks over the past few days presents a dilemma for the committed partisan. You don’t want to side with the failed Silicon Valley Bank and other collapsing institutions and come across as coddling the rich, but you also don’t want to root for the bank to fail and end up being a cheerleader for broader economic collapse. This is especially tricky for Republicans, who spent the weekend looking for a way to criticize President Joe Biden’s handling of the crisis, even as they waited to see what his handling of the crisis would be.
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