Because he's both an evil genius and a senile old man at the same time, just like Reagan.

President Reagan, Mastermind - SNL:

https://www.youtube.com/watch?v=b5wfPlgKFh8

He bailed out SVB and Sachs didn't even give him a t-shirt.

Well, to be fair, the law wasn't individually passed by Biden. It was stuffed into a foreign aid bill aimed at supplying both Ukraine and Israel, as well as enforcing additional sanctions on Russia.[1]

It's not entirely clear if Biden thinks it's a good move but honestly I doubt very much he has his own opinion on this as it is.

[1]: https://docs.house.gov/billsthisweek/20240415/HSupp_01_xml.p...