Michael S. Barr: “The obligation, obviously, is on Congress and the Executive Branch to work out an arrangement on the debt ceiling to…”

The bank did respond to regulator citations but those responses were insufficient.

We are playing right into China's strategy.

I want to know what the bank executives were doing in the months, weeks, and days leading up to this failure.

It was our judgment collectively on the Federal Reserve Board, and an unanimous decision of the FDIC and the Treasury Secretary, that we needed to do that to protect contagion from infecting healthy banks in the system.