of Silicon Valley Bank and several congressional committees have announced some form of investigation into the bank failure.
The White House highlighted reports that Silicon Valley Bank CEO Gregory Becker sold $3 million worth of shares in the bank in the days before its collapse, saying Biden wants the FDIC to have the authority to go after that compensation. Sen. Sherrod Brown, D-Ohio, who chairs the Banking Committee, welcomed Biden's call for congressional action, stating in an email that his committee"will be looking at all the ways we can protect working families’ money from risky bets that didn’t pay off in Silicon Valley or on Wall Street.
“So many people think it was a regulatory failure, or it was because of rapid increases in interest rates due to inflation,” he said.