Silicon Valley Bank’s demise animates early days of California’s 2024 U.S. Senate contest
LA TimesWith a mirror slightly askew in the background, Rep. Katie Porter sat in her Irvine bedroom and flipped on Instagram live as several regional banks teetered on collapse, with depositors frantically seeking to pull money from their accounts. For the record: An earlier version of this story misquoted Rep. Adam Schiff saying, “The economic issues and the democracy issues are really part of the same pole.” Schiff said the “same whole.” She also castigated Republicans and some of her fellow Democrats for voting in 2018 to rescind certain regulations and oversight under the Dodd-Frank Wall Street Reform and Consumer Protection Act, which Congress passed in the wake of the financial crisis more than a decade ago. “That’s bonkers.” The second largest bank closure in U.S. history has been a told-you-so moment for Porter, whose campaign to succeed Sen. Dianne Feinstein has so far been infused with themes of economic fairness and how these downturns disproportionately hurt people with low incomes. A campaign spokesperson for Schiff said Porter’s “false negative attacks on Adam are only going to increase the support for him among voters who are interested in progress on homelessness, public safety and the economy, not mudslinging.” The longtime Burbank congressman is best known for his recent work on the intelligence committee and his central role in the impeachments of former President Trump. To Schiff, the SVB failure tied into an inherent unfairness in the economy, which “works for bank executives who take excessive risks with other people’s money.” “So much of my focus has been on democracy lately,” Schiff said in an interview this week after participating in homelessness outreach in his district.
History of this topic
CEOs of the nation’s biggest banks warn that new regulations could harm the economy
Associated Press
With ‘everybody else’ dead or gone, a Pasadena bank grows
LA Times
Silicon Valley Bank failed because of regulators’ sluggishness, Fed’s Mary Daly says
CNN
Silicon Valley Bank to cut 3% of its workforce
Live Mint
Bank execs blame panicked depositors for Silicon Valley, Signature failures, but senators blame them
Associated Press
Heads of failed banks refuse to accept blame, defend their pay and bonuses
LA Times
California bank regulator finds own faults in bank’s demise
Associated Press
California regulator cites social media, digital banking as key factors in Silicon Valley Bank’s failure
LA Times
Former CEOs of failed banks to testify before Senate panel
Associated Press
Fed Says It Failed to Act on Problems That Led to Silicon Valley Bank Collapse
Live Mint
Fed faults Silicon Valley Bank execs, itself in bank failure
Associated Press
Silicon Valley Bank: US Fed calls for tougher bank rules after SVB collapse
Live Mint
Fed Admits to Failures in Oversight of Silicon Valley Bank Collapse in New Report
News 18
Congress Helped Set Stage For Silicon Valley Bank’s Failure, Federal Reserve Says
Huff Post
Fed blames itself for Silicon Valley Bank collapse
The Independent
US Federal Reserve admits faults and calls for stronger banking oversight after Silicon Valley Bank collapse
Hindustan Times
The Surprising Risk That Turbocharged a $142 Billion Bank Run
Live Mint
First Republic may not survive, even after two multibillion-dollar bailouts
CNN
Column: Love it or hate it, the Silicon Valley Bank bailout won’t cost taxpayers a cent
LA Times
Insider Q&A: Lindsey Johnson of the Consumer Bankers Assoc.
Associated Press)
How the failure of Silicon Valley Bank might have affected the entire financial system
Firstpost
Profits at big US banks show few signs of industry distress
Associated Press
Profits at big US banks show few signs of industry distress
The Independent
Biden calls to revive bank regulations that Trump weakened
Associated Press
White House skirts Congress to push new regional bank rules
Daily Mail
GOP lawmakers accuse Fed of being lax before bank failure
Associated Press
Data | The Collapse of Silicon Valley Bank and Signature Bank Amid Rising Interest Rates and Asset Losses
The Hindu
Fed official: Bank rules under review in wake of SVB failure
Associated Press
Collapsed Silicon Valley Bank sold to US rival First Citizens
The Independent
Good News for SBV customers! First Citizens to acquire troubled Silicon Valley Bank
India TV News
Biden says U.S. banks are in good shape, turmoil will ease
LA Times
Column: The Fed’s anti-inflation work is almost done, with an assist from the banking crisis
LA Times
Bank failures: Anger in Congress, but division on what to do
Associated Press
Will Americans End Up Footing The Bill For Bank Failures?
Huff Post
What caused the collapse of Silicon Valley Bank, and is there a danger of ‘contagion’? | In Focus podcast
The Hindu
Explained | What’s next for Silicon Valley Bank?
The Hindu
Will Americans end up footing the bill for bank failures?
LA Times
Experts, banks look for ideas to stop next bank failure
Associated Press
Warren goes off on Jerome Powell during Senate Finance hearing: He aimed a ‘flamethrower’ at banking rules
Raw Story
Republicans Accept No Blame For Bank Failures After They Voted To Deregulate Banks
Huff Post
Justice Dept, SEC probing collapse of Silicon Valley Bank
Associated Press
Bank runs used to be slow. The digital era sped them up
Associated Press
Silicon Valley Bank Was Not Your Bank
Slate
Chuck Schumer, Maxine Waters Rid Themselves Of Silicon Valley Bank Contributions
Huff Post
Massive job cuts in India due to Silicon Valley Bank collapse? Experts say…
Hindustan Times)
Silicon Valley Bank Collapse: How Washington ended up rescuing US banks
Firstpost
Signature Bank investigated for criminal activities prior to collapse
Hindustan Times
How Washington came to rescue US banks
Associated Press
Silicon Valley Bank collapse: 96 hours after biggest US bank failure in 15 years
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