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Washington Post reporter Jeff Stein admitted it was a mistake to share a drastic misquote of Sen. John Fetterman that had been sent to him by the senator's office.
Top executives at Silicon Valley Bank and Signature Bank largely avoided taking responsibility for their banks’ dramatic failures at a Senate hearing Tuesday, instead using their time to assign blame
'The takeover of SVB has been personally and professionally devastating, and I am truly sorry for how this has impacted SVB’s employees, clients, and shareholders,' says former Silicon Valley Bank CEO Greg Becker
“The messaging from the Federal Reserve was that interest rates would remain low and that the inflation that was starting to bubble up would only be ‘transitory,’” Becker said in written testimony prepared for a US Senate Banking Committee hearing Tuesday focused on Silicon Valley Bank and Signature Bank, both of which were seized by regulators in March.
But it may become harder to reject more banking consolidation as the industry continues to reel from interest rate hikes and deposit runs.