Sen. Warren urges Fed Chair Powell to recuse himself from review of Silicon Valley Bank collapse

Sen. Warren urges Fed Chair Powell to recuse himself from review of Silicon Valley Bank collapse - TL;DR CNBC

Sen. Warren urges Fed Chair Powell to recuse himself from review of Silicon Valley Bank collapse

Publishing timestamp: 2023-03-14 18:07:07

Summary

Senator Elizabeth Warren has urged Fed Chair Jerome Powell to recuse himself from the central bank's review of Silicon Valley Bank's collapse, accusing him of allowing dangerous practices that contributed to its failure. The Fed announced a review of the supervision and regulation of SVB after its takeover by financial regulators prompted the largest bank failure since the 2008 financial crisis. SVB's collapse has fueled fears of similar issues at other banks, including Signature Bank, a major lender in the cryptocurrency industry, which was shut down by New York State regulators to help stave off a bigger financial crisis.

Sentiment: NEGATIVE

Tickers: HSBC, HSBA-GB,

Keywords: politics, breaking news: politics, u.s. economy, business news,

Source: https://www.cnbc.com/2023/03/14/silicon-valley-bank-elizabeth-warren-criticizes-fed-chair-powell.html