So it sounds like to me that this is clearly a case of the fox guarding the henhouse all the way through the system here.
I am working on bipartisan legislation to claw back money when executives take big bonuses for blowing up their banks.
This is exactly the kind of deregulatory shift I warned about in 2018, when I opposed Powell's nomination as Fed Chair.
Then how could you say there was no evidence that anyone violated the rules? It clearly violated the rules.
This is suspicious timing, but you did not look into this trade as part of your investigation.
One of the four causes of SVB's failure, that the Fed report identifies, is the 2018 law that Republicans, with the help from some Democrats...
the Fed continues to stonewall Congress, stonewall the public, on the underlying information about these trades.
I think that the proposal from you and Senator Scott, which I have reviewed, does not go as far as I would like.
It is past time for us to remove private bankers from this public role.