Capitol Hill wasted no time in pointing fingers after U.S. officials swooped in to shore up confidence in the banking system after the failure of Silicon Valley Bank , with some accusing the Trump administration of weakening regional banks and others bemoaning government intervention.
An administration official said there's no timeline for Biden to make any particular requests of Congress as his aides were still working to manage the immediate situation and better understand what caused the crisis and what to ask of lawmakers.
“Let’s be clear. The failure of Silicon Valley Bank is a direct result of an absurd 2018 bank deregulation bill signed by Donald Trump that I strongly opposed," said Vermont Sen. Bernie Sanders in a statement. “It’s clear there were big misses here," said Jonah Crane, a partner with Klaros Group and former Treasury Department official. "For one, the Fed has only once ever stress tested for a high interest rate environment, despite knowing they would have to raise rates."
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
JPMorgan, PNC among suitors for SVB Financial in deal excluding SVB Bank - AxiosJPMorgan Chase & Co and PNC Financial Service Group Inc are among those in talks about acquiring SVB Financial Group in a deal that would exclude its commercial banking unit Silicon Valley Bank that is currently under U.S. control, Axios reported on Monday citing sources.
Les mer »
President Biden Calls for Stronger Bank Regulations in Wake of SVB, Signature Bank CollapsesWhile depositors were protected, managements and investors with collapsed lenders SVB and Signature Bank will receive no bailout, said President Biden on Monday morning. nikhileshde reports
Les mer »
SVB collapse: The Treasury must make whole SVB investorsThe Treasury Department is right to ensure that investors at Silicon Valley Bank have access to their deposits.
Les mer »
Paul Krugman: SVB was 'Shmoozing and Vibes Bank,' not new 'Lehman moment'Paul Krugman says Silicon Valley Bank could've been called the 'Schmoozing and Vibes Bank,' but it's probably not another 'Lehman moment'
Les mer »
Kuwait central bank expects little SVB impact on local lendersKuwait's central bank said on Sunday there would be very little impact on local lenders from the collapse on Friday of Silicon Valley Bank (SVB).
Les mer »
Bank of London submits proposal for SVB's UK armBank of London has tabled an offer to Silicon Valley Bank UK, SVB's subsidiary, the company said on Sunday, adding that it had sent the proposals to British authorities, including the Treasury and the Bank of England.
Les mer »