Thanks for this and previous updates. Saw President Biden’s comments earlier this AM, which included one thing I didn’t see you mention: the management of the two failed banks are to be fired - which is only appropriate, and what should’ve occurred back in ‘08. However, some of these people were also reportedly paid six-figure bonuses just before this crisis erupted - if that is true, any viable methods of “clawing back” these undeserved payments should be vigorously pursued - and Congress should make sure they are.
I had read things claiming that some well connected VCs in silicon valley had told the companies they invested in to get their money out of SVB a few days prior to this panic.
I do not know how valid these claims are - but it's something you all should be looking into.
Will congress be investigating these claims to see if they are valid? If these people know, how did they know - and did they have a hand in moving these events along for their own benefit?
Thank you for this update; very appreciated! But in guaranteeing all deposits, we also need to set up protections so that banks do not get even more risky in their operations!
Excellent recap. Another reminder of why we can’t have ‘states have rights’ to be in charge of significant issues and we need experienced experts in position to provide best advice to politicians.
You are a great communicator and your clear explanation of a complicated subject is appreciated!
Thanks, very kind of you.
Good communication and most importantly NOT political but factual. Thanks!
Thanks for this and previous updates. Saw President Biden’s comments earlier this AM, which included one thing I didn’t see you mention: the management of the two failed banks are to be fired - which is only appropriate, and what should’ve occurred back in ‘08. However, some of these people were also reportedly paid six-figure bonuses just before this crisis erupted - if that is true, any viable methods of “clawing back” these undeserved payments should be vigorously pursued - and Congress should make sure they are.
Agreed.
I agree with you. These managers and the ones responsible in '08 should be held accountable. I am still smarting over the conclusion in '08.
Great news, Jeff. This is just the kind of report we need to stem political posturing and hysteria. I am so glad you are representing us in Congress!
This is a remarkable thing you are doing. It makes us all feel better to hear directly from someone who is representing us in Washington.
I have forwarded this clear explanation on to several people already. Thank you!
I appreciate that. It's important to make sure we're all on the same page in this moment.
Same here. I'm forwarding Jeff's message
Thank you Jeff for being so open about what is going on in Washington
Wish my representative was as excellent communicating. Thanks
Hi Jeff,
I had read things claiming that some well connected VCs in silicon valley had told the companies they invested in to get their money out of SVB a few days prior to this panic.
I do not know how valid these claims are - but it's something you all should be looking into.
Will congress be investigating these claims to see if they are valid? If these people know, how did they know - and did they have a hand in moving these events along for their own benefit?
Thanks for another great update and insight. It is well appreciated!
Thank you, Jeff for this speedy and illuminating report.
Thanks for this update. Much appreciated.
Thank you for this update; very appreciated! But in guaranteeing all deposits, we also need to set up protections so that banks do not get even more risky in their operations!
Excellent recap. Another reminder of why we can’t have ‘states have rights’ to be in charge of significant issues and we need experienced experts in position to provide best advice to politicians.
Jeff, thank you for your understandable update. Very much appreciated.
Thank you for keeping us up-to-date. It is reassuring to know that Congress and the Treasury Dept. are doing their work