Failure of bank last weak sparked fears of financial crisis, as US government announces plans to stabilize situation
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Republicans reacted to Silicon Valley Bank’s collapse by avoiding the question of regulation and instead pointing their fingers elsewhere.
Tim Scott, the top GOP lawmaker on the Senate Banking Committee, implied in a statement that the intervention could make financial institutions believe the government will bail them out, no matter what:
Continue reading…Failure of bank last weak sparked fears of financial crisis, as US government announces plans to stabilize situationSign up to receive First Thing – our daily briefing by emailRepublicans reacted to Silicon Valley Bank’s collapse by avoiding the question of regulation and instead pointing their fingers elsewhere.Tim Scott, the top GOP lawmaker on the Senate Banking Committee, implied in a statement that the intervention could make financial institutions believe the government will bail them out, no matter what: Continue reading…