The Senate Banking Committee holds a hearing on executive accountability after recent bank failures.
Witnesses testifying include Da Lin, assistant professor of law at the University of Richmond School of Law; Thomas Quaadman, executive vice president at the Center for Capital Market Competitiveness at the U.S. Chamber of Commerce, and Heidi Mandanis Schooner, professor of law at the Columbus School of Law at The Catholic University of America.
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LIVE: The Senate Banking Committee holds a hearing on recent bank failures — 05/04/23…(read more)
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The Senate Banking Committee recently held a hearing to address the issue of recent bank failures. The hearing, which took place on May 4th, 2023, aimed to understand the causes of the failures and to discuss potential solutions to prevent similar situations in the future.
The recent bank failures have raised concerns about the stability and resilience of the banking industry. This has sparked a debate about the regulatory framework and oversight of banks, as well as the potential risks they pose to the broader financial system.
During the hearing, committee members heard from various stakeholders, including representatives from the affected banks, regulatory agencies, and industry experts. They discussed the specific circumstances that led to the failures, such as risky lending practices, inadequate risk management, and macroeconomic factors. There was also a focus on the impact of the failures on depositors, borrowers, and the overall economy.
One of the key themes that emerged from the hearing was the need for stronger regulatory safeguards to prevent similar failures in the future. This includes better supervision of banks’ lending practices, improved stress testing of financial institutions, and more effective resolution mechanisms for failing banks.
Additionally, there was a discussion about the potential role of technology in enhancing the transparency and stability of the banking sector. Digitalization and the use of advanced analytics could provide regulators and banks with better tools to monitor and mitigate risks.
Overall, the hearing highlighted the need for a comprehensive approach to addressing bank failures, which involves a combination of regulatory reforms, improved risk management practices, and technological innovation. The Senate Banking Committee will continue to work on these issues to ensure the safety and soundness of the banking system for the benefit of all stakeholders.
The San Francisco Fed is asleep at the wheel
The failure of Banks has torn into global markets, with investors ripping up their forecasts for further rises in interest rates and dumping bank stocks around the world. I'm at a crossroads deciding if to liquidate my dipping 200k stock portfolio, what's the best way to take advantage of this bear market?
This is what you get when you let Ruby Freeman and the like count the votes.
Tim Scott is a joke
Just pay me in Dogelon Mars, and accept in as legal tender… problem solved!
Did they get the MILLIONS Back from SVB Democrat donations ? Thought we forgot ?
Why is it that government has ALL these people yet they are always behind the curve. ALL these regulations yet can’t foresee what could
Possibly go wrong. The stupidness of these people is truly astounding pointing at you Ms Smith !
American Government is corrupt, worthless to the people, our taxes are spent on war and giving it away to very wealthy, while starving the rest.
Impeach biden and abolish the federal reserve
They are wiping out the banks with a double sucker punch … dropping the value of bank assets … creating a sharp recession that will sharply increase loan defaults.
These hearings are garbage they never do anything talk is cheap
They won’t investigate Congress politicians for insider trading … dumping their First Republic bank stock.
Republicans act like Trump was never President. Like he doesn't have a part in this failed economy
Pretty much no safe guards bank executives receiving bonuses and immunity while other lwo rank and file people take the blame. Blame the regulators for setting this up to happen. And the committee.
What the hell you guys never hold anybody responsible you'll just let him go so who cares anymore. It's our money and you just give it away