The Silicon Valley Bank crisis is 'clearly' a bailout, says former FDIC chairman William Isaac

• William Isaac says the FDIC's handling of Silicon Valley Bank's collapse "clearly" constitutes a bailout.
• "It's not a bailout of the shareholders. They're getting wiped out," Isaac said.
• Isaac said the FDIC shouldn't go overboard and protect people who "shouldn't be protected."

William Isaac, the former chairman of the Federal Deposit Insurance Corporation, said the authorities' handling of Silicon Valley Bank's collapse "clearly" constitutes a bailout. 

On Monday, Bloomberg anchor Scarlet Fu asked Isaac about his views on the FDIC taking over Silicon Valley Bank — and whether it should be considered a bailout.