'Did You Stress-Test Silicon Valley Bank In 2022?': John Kennedy Grills Witnesses On SVB

At Tuesday's Senate Banking Committee hearing, Sen. John Kennedy (R-LA) questioned witnesses about FDIC policy.
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[@bernardallen55]

It was a very bad decision to remove the Glass-Steagall Act in the late 1990s, which led to the spectacular failure of huge banks during the financial crisis of 2007-2008. To prevent another disaster, Dodd-Frank and this statute both need to be reestablished right away. What happened with SVB is only the beginning of what will happen if nothing is done to address the current situation.

[@danieljackson87]

Although the economy has so far held up, the SVB scenario serves as a warning that Fed rate hikes are still having an impact. At times like this, investors must be vigilant about the next inevitability. You don't have to act on every forecast, therefore I'll advise you to hire a financial counselor. This has been my fallback position for a while.

[@danieljackson87]

@Davies McCamey My trustworthy advisor, Ruth Loralann Brennan, works for a fee only. She actually offers free consultations and always has the interests of her clients at heart. She and I have been colleagues ever since I turned 40. She is a busy woman, but if you can catch her attention, she might be able to help.

[@andrewlogan7737]

@@danieljackson87 Simply by pasting Ruth's full name into my browser, her website immediately displayed. You've spared me from doing a lot of tedious research, so thank you.

[@colevetter8970]

Caught him in a lie in the first 30 seconds

[@timjester8555]

Why are these regulators and oversight officials not fired the next day? Absolute incompetence and corruption.

[@josephhuman7390]

Thank you for your comment,it was factually correct and to the point, I really can't believe I am witnessing this, ........They should be Fired.

[@scottyo2490]

Because certain elitist get rich when banks fail

[@brianhomka290]

Hearings are useless...no consequences...and the beat goes on...

[@josephhuman7390]

@@brianhomka290 yeah noticed that years ago nothing becomes of it, I 57 can't recall anyone going to jail or court on this just hot air blowing.

[@ritab-c492]

Senator Kennedy, always on the mark!!!

[@williampaul8556]

GOVERNMENT IN TWO WORDS > CORRUPTION - INCOMPETENCE.

[@1965Grit]

Government has the ability to regulate any issue into a disaster!!!

[@LearningFromYou]

one could say the same about almost any human endeavor...for example, what is the failure rate for new businesses? or what is the average number of traffic accidents in any given district in a year? Corruption? Have you looked at social media recently? It's a minimally regulated ecosystem based almost entirely on corrupt attitudes and propaganda... Government is an easy target, though, compared to all the rest because it's the one thing we are ALL affected by without choice. So the choice comes down to: do we help it become better or do we make it worse? The reality is simple: Keep away from government those who would make it worse. Right now, the electorate is failing to do this.

[@aj-2savage896]

Get woke, make other people broke.

[@mrrey8937]

Im surprised no one has reported on SVB's policies that followed WEF policies and agenda........SVB even reported their wokeness progress back to WEF on a regular basis

[@tupregunta]

How come these experts don't recall, or are not aware of when presented with facts?

[@franklyandrewjames]

that's what thier expertice specializes in ...

[@craigbenjamin196]

Pure fit denial for if know or not, it top secret and only federal or president will see it. When u know that the president will admit that he has bad judgement in people and orders on the people. That cause harm to many under God.

[@shaneb4923]

CRIMES AGAINST HUMANITY!!!!! THIS IS ABSOLUTELY RIDICULOUS!! GROW UP!! DO YOUR JOB!!

[@daveprimmer2817]

John is #1

[@sabaha4637]

Federal reserve ? There is no reserve Dude😂

[@sabaha4637]

J Kennedy 🤩

[@richardmartyn7865]

I think the regulators need "stress testing"

[@Marxone]

If regulatory body made a request from the bank to comply with risk management, shouldn't the bank officials be prosecuted?

[@suntzu-]

worst part nobody goes to jail.

[@sabaha4637]

FTX not charged nothing Feds👎!

[@darrylvaillancourt6144]

You know that the government and state are exempt from the LAW'S and the state is above the laws they enforce and both the government and state have SEPARATED THEMSELVES FROM THE CHURCH AND IT'S CONGREGATION THAT'S YOU CONGREGATION you know that you really don't have to prove your faith in GOD and Jesus Christ to anyone except to God and Jesus Christ and that's when you're dead soooooooooooo do you think 🤔 that when you die you can finally find your faith in GOD I hope so because you know that the government and state have SEPARATED THEMSELVES because they can't prove to you the congregation yes that right they can't prove their faith in GOD and Jesus Christ and claim exemption while saying that GOD wrote 100 law's written against them I guess you start at the beginning you see God made Man ♂️ then God made woman ♀️ to keep it simple two genders then one day government came to be and the government formed States and they became exempt from the LAW'S and they have separated themselves from the church and it's congregation that is you congregation think 🤔🧐 about this you really don't have to prove your faith in GOD and Jesus Christ but to GOD and Jesus Christ and that's when you're dead so when you die do you think 🤔 you can find faith in GOD and Jesus Christ I hope so because it's the government and state that have SEPARATED THEMSELVES that really need to show us the congregation that they believe and have faith in GOD and Jesus Christ and they been trying to stop me from saying ALL this stuff for a long time now Instead of chasing GHOST GUN RUNNING bahaha 🤠🤠🤠 THANK WHITIES let's try getting rid of the government funded Free loader IMMIGRANTS and all the people who hate God fight God 😱 snowflake CORN POP 😆😊 RESPONSIBILITY FOR nothing exempt from the LAW'S LAW'S LAW'S LAW'S LAW'S LAW'S I'm an unregistered American Indian and I say THAT the piece treaties been broken give my PEOPLE America back and I HAVE AN ASSOCIATE DEGREE IN APPLIED SCIENCE MY MAJOR PLUMBING AND HEATING LET'S TALK ABOUT THE RAILROAD IS OWNED BY THE GOVERNMENT AND STATE AND ALL RAILROAD WORKERS ARE PAID BY THE GOVERNMENT AND THE RAILROAD POLICE ARE RESPONSIBLE FOR THE SAFETY OF THE TRACKS AND TRAIN ALSO THE HAZMAT RESPONSE TEAM SHOULD NEVER BEEN TOLD DON'T COME IN OHIO AND THE HAZMAT RESPONSE TEAM WAS SUPPOSED TO BE EQUIPPED FOR THE DEMANDING NEEDS OF THE RAILROAD AND INDUSTRIAL NEEDS HAZMAT CLASS SAYS FIRST CONTAINMENT THEN RECOVERY AND CLEAN UP NOWHERE SAID SET FIRE 🔥 TO THE TRAINWRECK OKAY NOW OPEN BORDERS UNLIMITED IMMIGRATION DEFUND THE POLICE LAWLESSNESS SUPPORT GANGLAND ACTIVITY'S 😱😳 AND I KNOW WHY BLACK 🖤 PARENTS USE RACIST REMARKS ON THEIR OWN KIDS BECAUSE THEY DON'T WANT THEIR KIDS GOING DOWN THE GANGLAND ROAD AND DON'T NEED WHITES FCKIN IT UP SNOWFLAKE GOD FIGHT GOD 💪 FIGHT GOD 💪 FIGHT GOD 💪 FIGHT GOD 💪😎 BRO SNOWFLAKE GOD IS GOOD 😊 FIGHT GOD 💪😎 BRO SNOWFLAKE GOD IS GREAT 😃 FIGHT GOD 💪😎 BRO SNOWFLAKE GOD IS TWO GENDER STUUUUUPIIIIIIIIID KEEPS IT SIMPLE 😅😅😅😂OH I'M SORRY HOW RUDE I DIDN'T ASK HOW YOU IDENTITY AS SNOWFLAKE ❄️ OR HIM/HER SNOWFLAKE OR THEY/THEM SNOWFLAKE ❄️ OR DO YOU HAVE SOMETHING NEW SNOWFLAKE 😅😂😅😊 YOU LABELED YOURSELVES BAHAHA 😆😅😳 YEEEEEEEE EXEMPT FROM THE LAWS I WISH JEFF DUNHAM WOULD MAKE PEANUT A HI I'M STUUUUUPIIIIIIIIID JO BIDEN AND I'M A REAL LITTLE FCKIN IDIOT DOLL BECAUSE PEANUT WOULD BE A BETTER PRESIDENT THAN ZELINKSY BIDEN ONCE YOU GO PURPLE 💜 GANGLAND YOU DON'T GO BACK😊💜 EXEMPT FROM THE LAWS EXEMPT FROM THE LAWS MY SENATOR SUSAN COLLINS DECLARED HERSELF GOVERNMENT PROPERTY AND EXEMPT FROM THE LAWS YEARS AGO AND THE STATE IS ABOVE THE LAW FOR YEARS AND THEY HAVE SEPARATED THEMSELVES FROM THE CHURCH AND IT'S CONGREGATION THAT'S YOU CONGREGATION WHILE MAINTAINING AN OPEN BORDERS UNLIMITED IMMIGRATION DEFUND THE POLICE LAWLESSNESS THAT SUPPORT GANGLAND ACTIVITY'S 😱 SNOWFLAKE BAHAHA 😆😅😳 YEEEEEEEE YEEEEEEEE EXEMPT FROM THE LAWS EXEMPT FROM THE LAWS THAT'S LIKE AN AC DC ALBUM EXEMPT FROM THE LAWS EXEMPT FROM THE LAWS AND ASK AN ECONOMY CLASS WHAT THEY THINK ABOUT OPEN BORDERS UNLIMITED IMMIGRATION DEFUND THE POLICE LAWLESSNESS THAT SUPPORT GANGLAND ACTIVITY'S 😱 SNOWFLAKE BAHAHA 😆😅😳 YEEEEEEEE YEEEEEEEE YEEEEEEEE EXEMPT FROM THE LAWS EXEMPT FROM THE LAWS SO STUUUUUPIIIIIIIIID GOVERNMENT FUNDED FREE LOADER IMMIGRANTS THAT GAVE EVERYTHING AWAY AT THE BORDER TO DRUG CARTEL'S AND CRAP LIKE THAT GET SPECIAL TREATMENT BECAUSE THEY HAVE SPECIAL NEEDS LIKE FREE MOTELS WITH DRY CLEANING SERVICE AND MAIDS FOR THE FANCY MOTELS AND SECURITY 😳 ALL PAID BY THE AMERICA NOT THE GOVERNMENT AMERICA 😮🎉 AND UKRAINE MILITARY IS ALMOST DEAD AND TO SAY UKRAINE HAS AN ECONOMY IS A JOKE 🤣 AND UKRAINE WANTS AMERICA TO SEND UKRAINE OUR TROOPS TO UKRAINIAN CONTROL 😮😮😮 GIVE TO UKRAINE DON'T COMPLAIN GIVE TO UKRAINE DON'T COMPLAIN GIVE TO UKRAINE DON'T COMPLAIN GIVE TO UKRAINE DON'T COMPLAIN 😮😮😮BIG BANK BAILOUT myself back in the day received 5 COUNTERFEIT ONE HUNDRED DOLLAR BILLS FROM KATAHDIN TRUST BANK AND IF I WOULDN'T HAVE SPENT ONE IN THE TOWN I GOT IT FROM I WOULD HAVE BEEN SCREWED AND THE STATE POLICE TOLD ME DON'T WORRY ABOUT IT BECAUSE IT DOESN'T CONCERN YOU IT'S NOT LIKE YOU WENT TO JAIL OR SOMETHING WHO'S EXEMPT NOW SNOWFLAKE ❄️ WHO'S EXEMPT NOW BAHAHA 😆😅😳 YEEEEEEEE EXEMPT YEEEEEEEE EXEMPT YEEEEEEEE EXEMPT FROM THE LAWS BAHAHA 😆😅😳 YEPPERS I'LL HAVE YOU KNOW I'M AN UNREGISTERED AMERICAN INDIAN SOOOOOOOOOOOO THE GOVERNMENT HAS NOT SQUARED AWAY WITH ME AND I SAY THAT THE PIECE TREATIES BEEN BROKEN GIVE MY PEOPLE AMERICA BACK SNOWFLAKE ❄️ WHO'S EXEMPT NOW PEOPLE PEOPLE DUE TO EMOTIONAL 😭😭😭 DRAMA HOOOOOOOOOOO OOOOOOOOOOOOOO NOW PRESENTING THE COWARDLY BIDEN GANGLAND ADMINISTRATION WORLD WIDE PRIVACY TOUR WE NEED PRIVACY TO SMOKE HUNTERS CRACK WITH SAM BECKMAN FREED AND CONGRESS WITH SENATE AND ALMOST ALL THE JUDGE'S 😱😱 BAHAHA HAHAHA GANGLAND NNNNNNMNNNNGANGLANDNNN GANGLAND NNNNNNMNNNNGANGLANDNNNÑNNNNNNNNNNNNNGANGLAND BAHAHA 😆😅😳 YEEEEEEEE YEEEEEEEE EXEMPT FROM THE LAWS EXEMPT FROM THE LAWS 😅😮🎉 SOOOOOOOOOOOO THE GOVERNMENT IS GOING TO INVESTIGATE THEMSELVES AND HAVE A MIGHTY GOOD TIME ACTING LIKE GANGLAND EXEMPT FROM THE LAWS AND ABOVE THE LAW I CAN HEAR THEM NOW MY SUPERVISOR SAID MY HANDS WERE TIED AND THEIR SUPERVISOR SAID IT'S THEIR FAULT NO IT'S THEY THEM'S FAULT NO IT'S HER HIMS FAULT IT'S NOBODIES FAULT THE GOVERNMENT IS EXEMPT FROM THE LAWS AND THE STATE IS ABOVE THE LAW BAHAHA 😆😅😳 YEEEEEEEE YEPPERS PEOPLE WHAT WE HAVE HERE IS A FAILURE TO COMMUNICATE WITH SNOWFLAKE ITS LIKE THE RAT PACK DEMONIC HOLLYWOOD AND THE COMPUTER SCAMMER NERDS IN CHARGE 😂😅😅 HOW STUUUUUPIIIIIIIIID CAN SOMEONE BE 😱😱😳😳😳 I WISH JEFF DUNHAM WOULD MAKE A HI MY NAME IS LITTLE STUUUUUPIIIIIIIIID JO BIDEN AND I'M A LITTLE FCKIN IDIOT DOLL FOR PEANUT BECAUSE PEANUT WOULD BE A BETTER PRESIDENT THAN ZELENSKY BIDEN NEEDS UKRAINE SEND MONEY 🤑 TWANIEAN BORDER SECURITY 😳 TWANIEAN CHINESE BLOW-UP ISLAND 🏝️ SEND MONEY 🤑🆓 BAHAHA 🤣😂 OUR COUNTRY IS GOING TO HELL A OHHHHHHH LOOK UP IN THE SKY IT'S A GIANT INVISIBLE CHINESE BLOW-UP DOLL WITH INVISIBLE SOLAR PANELS AND INVISIBLE CARGO BOX FLYING FREE AROUND AMERICA AS A SYMBOL FOR ALL GOVERNMENT FUNDED FREE LOADER IMMIGRANTS THAT HAVE SPECIAL NEEDS LIKE FANCY MOTELS AND MAID SERVES WITH SECURITY ALL PAID FOR BY AMERICA SEND MONEY TO UKRAINE DON'T COMPLAIN GIVE TO UKRAINE DON'T COMPLAIN GIVE TO UKRAINE DON'T COMPLAIN BAHAHA HAHAHA 😂 BIG BANK BAILOUT ASK AN ECONOMY CLASS WHAT THEY THINK ABOUT OPEN BORDERS UNLIMITED IMAGINATION DEFUND THE POLICE LAWLESSNESS THAT SUPPORTS GANGLAND ACTIVITIES NOW THAT IS FEDERAL AID DRUG CARTEL'S AND GHOST GUN RUNNING 😅😅😅 AND EXEMPT FROM THE LAWS ACTING LIKE THE NATIONAL DEBT IS THE GOVERNMENT NATIONAL DEBIT CARD 😅😅😅 ♠️ NEEDS FREE GOVERNMENT MONEY DON'T WORRY ABOUT IT THE GOVERNMENT DOESN'T WANT THE BANKS TO USE THE INSURANCE COMPANIES FOR THE BANKING SECTOR THE GOVERNMENT DOESN'T WANT THE BANKS INSURANCE COMPANIES INVESTIGATION ON ANYTHING ONLY THE GOVERNMENT IS GOING TO INVESTIGATE THEMSELVES 😱 SNOWFLAKE CORN POP 😆😊 RESPONSIBILITY DUTIES JOB BIDEN ADMINISTRATION PRIVACY TOUR WE NEED PRIVACY TO SMOKE HUNTERS CRACK WITH SAM BECKMAN FREED AND CONGRESS WITH SENATE AND ALL THE JUDGES BIG BANK BAILOUT THINK THEY DO NOT WANT THE BANKS INSURANCE COMPANIES INVESTIGATION ON ANYTHING THE ONLY ONE WHO IS GOING TO INVESTIGATE THE GOVERNMENT AND THE BANKS IS GOING TO BE THE GOVERNMENT IS GOING TO INVESTIGATE THEMSELVES SO STUUUUUPIIIIIIIIID DON'T WORRY THEY ARE GOING TO INVESTIGATE THEMSELVES AND FIND THEMSELVES EXEMPT FROM THE LAWS BAHAHA 😆😅😳 YEEEEEEEE SOOOOOOOOOOOO WHO'S GOING TO TELL THEM IT'S THE NATIONAL DEBT NOT THE NATIONAL DEBIT CARD ♠️ NATIONAL DEBT NOT THE NATIONAL DEBIT CARD ♠️ NATIONAL DEBT NOT THE NATIONAL DEBIT CARD ♠️ NATIONAL DEBT NOT THE NATIONAL DEBIT CARD ♠️ seriously 😳 YEEEEEEEE

[@allthehardtimes]

If he ever get brought up they might find another gabbi petito or white man cop to take your attention away

[@richardmartyn7865]

How much do these regulators pay themselves ?

[@margaretarross1712]

In other words, these financial "officials" are as useless now as they were on 2007. If their rules enacted after one crisis get in their way on the next, they merely amend those rules to permit the next crisis, and find excuses to dazzle Congress with word smoothies, saying nothing. This guy said nothing of financial importance.

[@davecody5997]

As I was bullshitting

[@USMADE-bb9ht]

The 08 meltdown and today's meltdown. The name is still Barney Frank of mass. Look for ct's Chris dodd in there too. Same people same fiasco.

[@scottmiller2591]

The Fed "falls asleep at the wheel" over and over again. 3 times is enemy action.

[@edwardkennedy3282]

This is done on purpose to get the reaction they want. Everything done for a reason not an accident.

[@holidaymagic17]

John k for president

[@williamnelson9332]

Oh and government employees never get fired have to change that too

[@kimberlysweetman2369]

They certainly don’t want the last question answered. It might make them all look derelict. We wouldn’t want that.

[@gyterdoneJP7315]

No government agency in my 27 years of military service has the interest or curiosity to reimagine any scenario not dictated by some outdated simplistic reg.

[@larrymoore8094]

The Chairman talks and says nothing, trying to excuse his ineptness...

[@cathaldeveney7488]

KZbin is cancelling

[@VMRTex]

Everybody involved was "looking the other way" while either stupid or illegal actions (or inactions) were being taken. And I suspect this is just one story among many. Banks will continue to fail, big time, and we taxpayers will either bail them out or suffer the consequences - or both. All the players involved should have their personal wealth taken from them.

[@franklyandrewjames]

not everybody when you consider the principles cashed out thier own holdings before the crash

[@craigbenjamin196]

Not it federal reserve is real backer of these banks. For if they falls so will the very very rich. They have no wear to put there money.

[@oldcynic6964]

Testing only thirty-four banks seems to be a small number. I'm not a forensic accountant, but I imagine that for each bank _exactly_ the same information would be required (otherwise how could the results be compared?). If the Fed know what info is required, it could tell the banks, and it could direct the banks to send those summary stats _every_ month. The banks ought to be doing their own stress testing anyway, (because banking is all about risk management). It should be possible for them to send the stats to the Fed without incurring additional effort. The Fed could run those figures through an analysis program (ie glorified spreadsheet) and see which banks have figures that look shaky. THEN, the Fed could send in a bunch of accountants to take a closer look, make sure the bank has sent the right figures etc. The process need not be as hard as the Fed's representatives would seem to have us believe.

[@kencole781]

More circle as I see it.

[@michaelbourbon8815]

How are these people actually hired?

[@johnwehunt4305]

It's a fing wej.

[@markfcoble]

❤ Foxes watching the coop. Revolving doors!

[@kirkw.72]

Forbes, please add to the description who these pols are talking to. Thank you.

[@jmbrady1]

its almost as if banks and the federal reserve can't be trusted

[@kencole781]

Maybe they should have checked the CFO of the silicon valley bank I believe one of them was joseph gentile who is also on the lehman brothers global investments in 2007 when they collapsed in 2008, maybe do a little checking out on scott silvergate also,

[@debbibeers5720]

Live by your words Kamala

[@benn4764]

The bank cheat

[@AWESOME20527]

The dude kept leaning back to avoid the questions and matter at hand

[@thailandsnippets901]

Sorry I meant they join the Public Sector, not Private

[@matthewwilliams6095]

If I ever get hauled infront of congress I will show up my preparation paperwork will be a newspaper cartoon section. Am pretty sure I can declare I don't know I'm sorry I don't have such information in front of me I'll get back to ya with such info but of course I really don't intend to provide any info. Dam I feel better I'm qualified to manage any government department or agency I'm very good at I don't know 😂

[@robertwalker1079]

Kennedy doesn't understand what is the nature of a stress test. It relates to liquidity. The cause of exposure to a liquidity problem is not central to the test.

[@1965Grit]

Like all stress tests, it's only testing for certain problems, like all Government intervention, they only look for problems after the fact and can't see problems after they happen, it's like calling 911 after someone has been killed rather than a homeowner being able to shoot a criminal before his family was killed!!!

[@cdonnelly5566]

This man finds the most politically correct way to slap the shit out of a baby

[@craigbenjamin196]

How u make a rich person money be safe. U get america tax people to safe guard it.

[@felsman8377]

They all looked the other way when they could guess it was gonna turn into quicksand

[@stephenbarrett3763]

Are them hand juesturs gang slang

[@pvttj8572]

Arrest bonespurs. Miserabilis cultus. Republican. Deplorable s.