MSNBC The 11th Hour With Stephanie Ruhle June 4, 2024 03:52:00
Should file under, yes, this actually happened. in 2021, a letter signed by silicon valley bank's president to its investors, to its clients, has a line in it, quote, we remained well positioned for rising rates with an asset sensitive balance sheet. the exact opposite happened and it's why they blew up. if this were any other industry, that company would blow up because their executives for foolish and they'd be down the tubes and we'd forget them. because the banking industry is so crucial to our system, they get a rescue. is this not why they need to have huge regulation and huge scrutiny? ...