Arizona Sen. Kyrsten Sinema is taking credit for helping broker legislation that would target executives of failed banks.
PHOENIX — Arizona Sen. Kyrsten Sinema, the Democratic defector turned independent who's been criticized as too closely aligned with Wall Street interests, took credit Thursday for helping broker legislation that would target executives of failed banks.
Sinema described her role to The Associated Press in facilitating a deal between the committee chairman, Sen. Sherrod Brown, D-Ohio, and the top Republican, Sen. Tim Scott of South Carolina. The measure responds to the collapse this year of Silicon Valley Bank, the second-largest bank failure in U.S. history, followed by the demise of Signature Bank and First Republic Bank.
Sinema said her support for increasing regulators' power is not a response to pressure on her. Critics, she said, “don’t serve on the relevant committees, don’t understand the issues and aren’t involved in the day-to-day work of ensuring that we have a healthy and strong economic and financial system in our country.”
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