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Elizabeth Warren calls for investigation into downfall of SVB, Signature Bank
Investors should not throw the baby out with the bath water in SVB collapse aftermath: Lori Calvasina
RBC Capital Markets head of U.S. equity strategy Lori Calvasina discusses the state of the U.S. economy in the aftermath of the Silicon Valley Bank collapse and ahead of the Federal Reserve March meeting.
Sen. Elizabeth Warren, D-Mass., called for an investigation into the collapse of Silicon Valley Bank and Signature Bank on Sunday.
Warren called on the FDIC to investigate the leadership of both banks prior to their downfall earlier this month. Warren is one of many lawmakers on Capitol Hill demanding more information about how the banks collapsed and why.
"The bank’s executives, who took unnecessary risks or failed to hedge against entirely foreseeable threats, must be held accountable for these failures. But this mismanagement was allowed to occur because of a series of failures by lawmakers and regulators," Warren wrote in a Sunday letter to FDIC regulators, according to the Wall St. Journal.
The U.S. economy held its collective breath in the hours following the collapse of SVB and Signature. Federal regulators soon seized control of both banks, and President Biden guaranteed depositors access to the funds.
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