Press ReleaseMarch 21, 2023

Job Creators Network Warns Yellen’s Incompetence Could Lead to Death of Small Banks and Small Businesses

Alfredo Ortiz, president and CEO of Job Creators Network, released the following statement in response to Treasury Secretary Janet Yellen’s admission today that more banks could soon receive bailouts:

“Americans should take no comfort in Treasury Secretary Janet Yellen’s response to this banking crisis. The Treasury Department and Biden’s banking regulators failed to spot this foreseeable crisis that resulted from rapid Federal Reserve interest rate hikes to contend with Bidenflation. This crisis especially threatens small banks, which provide the loans small businesses need to expand and create jobs. The administration’s incompetence could lead to the death of small banks and small businesses. Those claiming the demise of community banks isn’t a big deal have forgotten what it takes for small businesses to succeed. Yellen lost her remaining economic credibility when she called inflation transitory in 2021. She is a left-wing activist in economist clothing.”

Fox Business recently ran Alfredo’s op-ed slamming Yellen’s response to the crisis. Read it here