Congressman Johnson address the government’s takeover of Silicon Valley Bank

YANKTON, S.D.(WNAX)- The takeover of the Silicon Valley Bank in California by the federal government is an isolated incident.

South Dakota Congressman Dusty Johnson says it appears to be a bad management problem.

Johnson says its unfortunate that it turned into a partisan issue.

Johnson says there was no widespread change in banking regulations.

The President and the Federal Reserve said that all depositors would get their money out of the failed bank.

Johnson was a guest on “Drivetime with Von and Steve on 570 WNAX.”