AP Photo/Andrew Harnik
- Regional banks stocks sank in the wake of the failures of Silicon Valley Bank and Signature Bank.
- Regulators are shielding depositors from losses, but bank shareholders won't be protected, President Biden said.
- Investors "knowingly took a risk and when the risk didn't pay off, investors lose their money," he said.
A nearly 80% plunge in First Republic shares highlighted Monday's brutal trading session for regional banks as President Joe Biden said investors in failed Silicon Valley Bank and Signature Bank cannot count on aid from the federal government.