Silicon Valley Bank’s liquidity crisis and subsequent downfall sent waves of panic through the financial system in early March, setting off a chain reaction of chaos with which regional banks are still grappling. Now, lawmakers are set to begin their investigation into what led to the second-largest bank collapse in US history — and how to prevent something similar from happening again.
SVB’s failure is a “textbook case of mismanagement,” Barr said in his remarks. The Fed official pointed out that SVB’s belated effort to fix its balance sheet only made matters worse. “The bank waited too long to address its problems and, ironically, the overdue actions it finally took to strengthen its balance sheet sparked the uninsured depositor run that led to the bank’s failure,” said Barr, adding that there was “inadequate” risk management and internal controls.
Watch repubs will ask for free interest loans to any bank no limit of time. Covering their a.... not to say directly give them money !!!!
You know what is really sad and pathetic? The senate will take more action to prevent a bank from failing, than they will to prevent our children being slaughtered. shameful Senate SenateDems NRSC NRA
“Bank failures are Trumps fault”… JoeBiden
I expect more people to fall asleep during the hearings than the number of zeros in the bank's bailout.
If we don’t want to be disappointed, we should expect nothing but bloviating
UntoldStory_Of_GoddessDurga Who is the husband of Maa Durga? To know, read sacred book Gyan Ganga by Sant Rampal Ji Maharaj.
Déjà vu all over again. We went through this banking problem 15 years ago! The Government said they fixed it with stress test and government banking regulators! WHAT HAPPENED? Same old 💩!
Are they calling Trump in for questioning?
The arsonist, the fire, and the firemen are all the same. In the BankCrash
Why did executive sell of stock before the collapse? Why were bonuses paid out before the collapse?
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FDIC announces First-Citizens Bank & Trust Company to purchase assets of Silicon Valley Bank | CNN BusinessIs this good? I honestly don’t know.
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First Citizens Bank to purchase assets of Silicon Valley Bank | CNN BusinessThe Federal Deposit Insurance Corporation has announced that First-Citizens Bank & Trust Company will purchase all deposits and loans of Silicon Valley Bridge Bank. I heard surreycanuck6 bought that and the East Enderby Cibc kirkmin BigSteve207 WEEI GregABedard GregHillWEEI Pontifex
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