WASHINGTON (AP) — President Joe Biden is confronting a significant challenge as his administration grapples with the fallout from the second- and third-largest bank failures in history. He’s doing so amid significant stakes for both the U.S. economy and his political future. Privately, Biden has been adamant that the government’s intervention would not be like that of 2008, when Congress authorized billions in taxpayer cash to rescue banks deemed too big to fail, a senior White House official says. But officials knew they had to act, given the economic risks and the potential impact on bank customers who did nothing wrong.