I've got an idea--a bipartisan idea that I'm introducing with Sen. Rick Scott today: get the big bankers off the Reserve Banks boards of directors.
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...
the Fed heard that message loud and clear, and then it used that message to open up and start to deregulate even further...
One of the four causes of SVB's failure, that the Fed report identifies, is the 2018 law that Republicans, with the help...
the tailoring rules meant that Silicon Valley Bank, for example, did not have to do a lot of incredibly important things...
I think that the proposal from you and Senator Scott, which I have reviewed, does not go as far as I would like.
So let me just get this straight. Two-thirds of the people that oversee each of the Reserve banks, and hand-pick the lea...
S. 2155 weakened the rules and the supervision for these banks like SVB and opened the deregulatory door for the Fed to ...
Senator Scott and I also introduced a bill, which was included in a separate bill with Sen. Tillis, to give the Fed a tr...
This is not strong oversight. In fact, it is not even competent oversight.