Silicon Valley Bank’s downfall sent waves of panic through the financial system earlier this month, setting off a chain reaction of chaos with which regional banks are still grappling. Now, lawmakers are in the midst of an investigation into what led to the second-largest and third-largest bank collapses in US history — and how to prevent something similar from happening again.
” Gruenberg of the FDIC said that the collapses of SVB and Signature Bank “demonstrate the implications that banks with assets over $100 billion can have for financial stability. The prudential regulation of these institutions merits serious attention, particularly for capital, liquidity, and interest rate risk.” More regulation is needed Democratic Senator Elizabeth Warren of Massachusetts grilled federal regulators on their commitment to tightening banking rules.
They should’ve let it fail
We expect you to keep writing stories even when there isn’t any news to report
Silicon Valley “Bank” really operated like a hedge fund. They had less than 10% of their money FDIC insured. Why are they even being treated like a bank?
It’s pretty easy: (1) lack of oversight; (2) risky holdings. Every time there is a new financial instrument , crypto/credit default swap, the outlier banks dive into the deep end hoping for the best and passing the risks to the taxpayers. What needs to be done? We already know.
It's the Crystal Anniversary of the Financial Crisis.... Party on on Wall Street and D.C. !!!!!
Advisor tripping fr
O we have that to.
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