Treasury Sec. Janet Yellen Desperately Tries to Put Out Fire Sparked By Silicon Valley Bank Collapse

Yellen spoke with Margaret Brennan on Face the Nation Sunday about Silicon Valley Bank's bankruptcy and boosted bank confidence.

Yellen said the US banking sector is safe and well-capitalized. “Resilient. During the 2008 financial crisis, tighter capital and liquidity supervision was put in place, and it was tested during the early days of the epidemic and proven its resilience so Americans may have trust in our banking system."

But, Yellen cited those new controls as a reason the U.S. will not bail out Silicon Valley bank.

“Let me be clear that during the financial crisis, investors and owners of systemic huge banks were bailed out,” she remarked.