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Business
Joe Hernandez

Janet Yellen says the federal government won't bail out Silicon Valley Bank

Treasury Secretary Janet Yellen arrives for a hearing on Capitol Hill on March 10. On Sunday, Yellen said the government wouldn't bail out Silicon Valley Bank. (Drew Angerer/Getty Images)

Treasury Secretary Janet Yellen says the U.S. government won't bail out Silicon Valley Bank as it did with other financial institutions during the 2008 financial crisis, but she noted that regulators are working to ensure people and businesses with money in the failed bank would be made whole.

"The reforms that have been put in place means that we're not going to do that again," Yellen said when asked about a bailout during a Sunday appearance on CBS's Face the Nation.

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