Sen. Elizabeth Warren urged Congress to 'make banking more boring again.' Warren also urged Fed Chair Powell to recuse himself from reviews of the Silicon Valley Bank failure.
A pedestrian carries an umbrella while walking past a Silicon Valley Bank Private branch in San Francisco, Tuesday, March 14, 2023. After a frenetic weekend of round-the-clock briefings, U.S. policymakers took the audacious step guaranteeing all the deposits of the failed Silicon Valley Banks, even those exceeding the FDIC's $250,000 limit.
A pedestrian carries an umbrella while walking past a Silicon Valley Bank Private branch in San Francisco, Tuesday, March 14, 2023. After a frenetic weekend of round-the-clock briefings, U.S. policymakers took the audacious step guaranteeing all the deposits of the failed Silicon Valley Banks, even those exceeding the FDIC's $250,000 limit.
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Can the Government Contain a Banking Crisis? - The Journal. - WSJ PodcastsWhen Silicon Valley Bank imploded last week, it was the second biggest bank failure in U.S. history. Then, over the weekend, another bank, Signature Bank, was also taken over by the government. WSJ financial editor Charles Forelle explains what kicked off this banking crisis and how the government is scrambling to contain it. Further Reading: - How Silicon Valley Turned on Silicon Valley Bank - Silicon Valley Bank Closed by Regulators, FDIC Takes Control - Were SVB and Signature Bank Just Bailed Out by the U.S. Government?
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Warren Calls for Clawing Back Pay, Bonuses for Silicon Valley Bank ExecutivesThe senator also demanded a federal investigation into potential insider trading by executives.
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Elizabeth Warren calls on Fed Chief Powell to recuse himself from Silicon Valley Bank investigation'Fed Chair Powell’s actions to allow big banks ... to boost their profits by loading up on risk directly contributed to these bank failures,' Warren said.
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SVB collapse: Warren demands accountability from Silicon Valley Bank CEO.SenWarren is calling for accountability from Silicon Valley Bank CEO Greg Becker. 'You lobbied for weaker rules, got what you wanted, and used this opportunity to abdicate your basic responsibilities to your clients and the public,' Warren wrote Becker.
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Warren Calls on Fed’s Jerome Powell to Recuse Himself From Investigating Silicon Valley Bank FailureSen. Elizabeth Warren is calling for Federal Reserve Chair Jerome Powell to recuse himself from his agency’s investigation into the Silicon Valley Bank failure because his actions directly contributed to the collapse.
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Silicon Valley Bank collapse puts new spotlight on a 2018 bank deregulation lawThe failure of Silicon Valley Bank and Signature Bank is putting new scrutiny on a 2018 law that rolled back some banking regulations, with some Democrats calling to restore those rules as the feds step in to protect depositors.
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