Senate Banking Committee holds hearing on bank failures - 3/28 (FULL LIVE STREAM)

Join Washington Post reporters as top financial regulators testify before the Senate Banking Committee about recent bank failures, including the collapse of Silicon Valley Bank, and the federal response.

Witnesses will include Martin Gruenberg, chairman of the Federal Deposit Insurance Corporation (FDIC), Michael Barr, vice chairman of the Federal Reserve and Nellie Liang, undersecretary for Domestic Finance at the.S. Treasury Department.

Senators are expected to grill regulators about what caused the second largest bank failure in U.S. history and whether federal agencies missed key warning signs — or failed to act on them. The hearing comes amid a fraught financial landscape: days after the Federal Reserve hiked interest rates for the ninth time since March of 2022 and among heightened concerns about more economic turbulence ahead.

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[tt]

"When people on Reddit and Twitter can spot bank mismanagement before the regulators, something is terribly wrong." 03:05:00 👈 THIS

[MillenniumRequiem]

Helps when household investors don't take bribes...unlike regulators. Revolving door.

[Malfunkn]

"Long term debt".. doesn't that just mean they aren't going to pay their financial obligations? They play in stock.. this is wrong.

[Talon]

Highly regulated does not equate to safety unless the regulators are doing their job. So many lessons not learned. As Greenspan said after the collapse of LTCM - "Bankers cannot be trusted to police themselves." Leading up to the real estate crisis in 2008, when everyone is making money, management (and the regulators) look the other way. Same now. A climate of taking easy on banks, lax enforcement, heavy banking lobbying, has resulted in at least 3 failures that the system should have predicted. Yet, with SVB, being a big donor to the Democratic party and the CEO sitting on the FR Board, who cannot see the conflict here? Let the finger pointing begin.

[kylebork]

shout out to the Reddit regulators putting in WORK

[Chifan]

After the 2008 disaster, more bank failures were predicted in the future because there was virtually no meaningful change in accountability, oversight or attitudes after the debacle which would prevent them in the future. This really shouldn't surprise anyone, especially banking execs and the regulators charged with holding them to the line. It's only been a matter of time.

[TaxTheChurches.]

Which “private” bank got to Tim Scott? Did Tim Scott vet that bank himself?

[TaxTheChurches.]

Why doesn’t Sherrod Brown run for president? He’s one of about 10 members of congress who are decent, highly intelligent, tactful, mature, responsible.

[edwardclark]

The Senate grapples with insightful European Mercantile Banking principles initially implemented in Europe before America existed. These European banking principles taught astute American bankers skillful financing techniques of creating greater transaction compounding debt.

[gloireciel]

Hi! Do I have my money in your bank please? Thanks

[sirbey]

This is smoke screen at this point
Didn't the banks receive a bail out several times over and over 🤔

CEO take home millions and call it a bonus ...

When you make a deposit they regulate how much you can withdraw and freeze your credit limits without cause or warning to you .

What's the punishment for mismanagement.. bail out 🎉🎉🦺