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That is why I will be introducing legislation to strengthen regulators' ability to impose fines and penalties, to clawback bonuses, and to ban executives who caused bank failures from working at another bank ever again.
Executives at SVB and Signature took wild risks and must be held accountable for exploding their banks.
Will you commit to using your authority to undo the rollbacks that your predecessor initiated and to strengthen the rules?
Executives at SVB and Signature took wild risks and must be held accountable for exploding their banks.
The speed at which this happened was a matter of hours.
I find great fault with the reckless management on the part of Silicon Valley Bank in that they concentrated so much risk.
So I have--I think one of the things that we need to talk about when we are talking about these collectives are whether or not, you know, there are conversations about specific athletes in tandem with universities.
I urge you to use that authority and I urge my colleagues here in Congress to do our part to protect American families and small businesses from yet another banking crisis.
Will you commit to using your authority to undo the rollbacks that your predecessor initiated and to strengthen the rules?
As a founding member of the Congressional Pandemic Preparedness Caucus and as this committee prepares to reauthorize the Pandemics and All-hazards Preparedness Act this year, it is critically important that we take an all-of-government…
It seems to me the solution is clear. It is time to expand Medicare to cover dental care, something I have long supported.
We need better laws here in Congress but let us also talk about how we can strengthen the rules today even before Congress acts.
Congress should consider the SVB collapse a wake-up call and take action.
It is disappointing to me that it took such a long time and required the threat of a subpoena for you to appear before this Committee.
The 2018 deregulation law specifically made it easy for SVB and Signature Bank to engage in risky management practices.
We need better laws here in Congress but let us also talk about how we can strengthen the rules today even before Congress acts.
There was a concentration of risk on the part of Silicon Valley Bank.