In the Silicon Valley Bank failure, Biden provided financial assistance to 20 individuals, including Gavin Newsom. This action raises the question of whether he is truly challenging billionaires. As a taxpayer, you are responsible for covering any amount over $250,000 that each billionaire or individual had in that bank. As a taxpayer, you have to pay for any money over $250,000 that each billionaire or person had in the bank, which is more than what FDIC law requires.