Billionaire investor Bill Ackman says U.S. regulators ‘did the right thing’ by saving Silicon Valley Bank depositors

(Credit: Bryan Bedder—Getty Images for The New York Times)

The U.S. government “did the right thing” for America by swooping in to rescue Silicon Valley Bank’s deposit holders, according to billionaire investor Bill Ackman, who argued failing to act would have plunged the country into a 1930s-style bank run.

In a tweet on Sunday night, the legendary investor shared his thoughts on the collapse of Silicon Valley Bank (SVB) and how the U.S. government had responded to the crisis.