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[ad_1] Those directives, combined with the Fed’s implementation of a bipartisan bank deregulation law passed by Congress in 2018, “impeded effective supervision by reducing standards, increasing complexity, and promoting a less assertive supervisory approach,” according to the report. “We must strengthen the Federal Reserve’s supervision and regulation based on what we have learned,” Barr said…
[ad_1] Brown said the failure of SVB and Signature Bank earlier this month came down to “hubris, entitlement, greed.” “Once again, small businesses and workers feared they would pay the price for other people’s bad decisions,” Brown said. “And we’re left with many questions—and justified anger—toward bank executives and boards, toward venture capitalists, toward federal…
[ad_1] The methodical approach makes him a clear outlier in the GOP’s Trump era, which is significantly rowdier and more populist than the tea party that arose from the last financial crisis. McHenry says administration officials have responded well so far and that he’ll dig into how the failure happened in the days to come….
[ad_1] As U.S. banking regulators begin their post-mortem of Silicon Valley Bank, some pundits are pointing the finger at crypto markets, whose own collapse over the past year left the tech-focused lender hopelessly exposed. The conventional wisdom about crypto is that it’s “self-referential” — a separate universe to conventional finance — and that its inherent…
[ad_1] New Delhi: Top venture capitalist (VC) firms on Saturday issued a joint statement on the collapse of Silicon Valley Bank (SVB), one of the largest US banks serving the global startup community, saying they are “deeply disappointing and concerning”. Hemant Taneja, investor and managing partner at General Catalyst, said in a tweet that several…