From WSJopinion: Silicon Valley Bank’s problem, it turns out, is that its executives believed the Federal Reserve, writes josephsternberg
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Bank execs blame panicked depositors for Silicon Valley, Signature failures, but senators blame themTop 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 to events they said were largely out of their control. The arguments got little traction with senators on both sides of the aisle. Democrats and Republicans on the Senate Banking Committee criticized the executives for taking risky actions or missing obvious problems that directly led to the demise of their banks, while still accepting lucrative pay packages and bonuses, even in the days and weeks leading up to the failures.
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Senator calls on Fed to fire staff over Silicon Valley Bank failureSen. Tim Scott called for firings at the Federal Reserve over the central bank's failure to regulate Silicon Valley Bank in the run-up to its collapse.
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John Fetterman suggests failed Silicon Valley Bank executives should have the same work requirements 'Republicans want' for families receiving food stamps'Republicans want to give a work requirement for SNAP. A hungry family has to have...penalties,' Fetterman said. 'Shouldn't you have a working requirement after we've spent billions on your bank?' Fetterman floats work requirements for bank execs:
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Appeals court denies Elizabeth Holmes' request to stay out of prisonIn a separate decision, Judge Davila ordered Holmes and former Theranos president, Balwani, to repay $452 million in restitution to investors defrauded in the duo's scheme. The two are jointly liable to repay the penalty.
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Death Valley marijuana grow: 10,000 plants and deadly pesticideThe plants were eradicated, and 35 cubic yards of trash were removed, park officials said.
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1 killed when Metrolink train hits vehicle in Sun Valley areaResponding crews found the mangled vehicle on the scene, and one person — who was trapped in the wreckage — died at the scene.
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