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'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.
Sam Altman, who leads ChatGPT’s parent company, is expected to call for some regulation of artificial intelligence as Washington weighs its next steps.
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Chief executive of failed bank to deliver testimony to lawmakers in first public remarks since March
The Senate Banking Committee Tuesday morning started grilling executives of two failed California banks over their sudden collapse and failures in March.