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

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Forbes Breaking News

Forbes Breaking News

Күн бұрын

At Tuesday's Senate Banking Committee hearing, Sen. John Kennedy (R-LA) questioned witnesses about FDIC policy.
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Пікірлер: 81
@bernardallen55
@bernardallen55 Жыл бұрын
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
@danieljackson87 Жыл бұрын
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
@danieljackson87 Жыл бұрын
@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
@andrewlogan7737 Жыл бұрын
@@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
@colevetter8970 Жыл бұрын
Caught him in a lie in the first 30 seconds
@ritab-c492
@ritab-c492 Жыл бұрын
Senator Kennedy, always on the mark!!!
@timjester8555
@timjester8555 Жыл бұрын
Why are these regulators and oversight officials not fired the next day? Absolute incompetence and corruption.
@josephhuman7390
@josephhuman7390 Жыл бұрын
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
@scottyo2490 Жыл бұрын
Because certain elitist get rich when banks fail
@brianhomka290
@brianhomka290 Жыл бұрын
Hearings are useless...no consequences...and the beat goes on...
@josephhuman7390
@josephhuman7390 Жыл бұрын
@@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.
@williampaul8556
@williampaul8556 Жыл бұрын
GOVERNMENT IN TWO WORDS > CORRUPTION - INCOMPETENCE.
@1965Grit
@1965Grit Жыл бұрын
Government has the ability to regulate any issue into a disaster!!!
@LearningFromYou
@LearningFromYou Жыл бұрын
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.
@tupregunta
@tupregunta Жыл бұрын
How come these experts don't recall, or are not aware of when presented with facts?
@franklyandrewjames
@franklyandrewjames Жыл бұрын
that's what thier expertice specializes in ...
@craigbenjamin196
@craigbenjamin196 Жыл бұрын
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.
@daveprimmer2817
@daveprimmer2817 Жыл бұрын
John is #1
@aj-2savage896
@aj-2savage896 Жыл бұрын
Get woke, make other people broke.
@mrrey8937
@mrrey8937 Жыл бұрын
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
@sabaha4637
@sabaha4637 Жыл бұрын
J Kennedy 🤩
@shaneb4923
@shaneb4923 Жыл бұрын
CRIMES AGAINST HUMANITY!!!!! THIS IS ABSOLUTELY RIDICULOUS!! GROW UP!! DO YOUR JOB!!
@sabaha4637
@sabaha4637 Жыл бұрын
Federal reserve ? There is no reserve Dude😂
@sabaha4637
@sabaha4637 Жыл бұрын
FTX not charged nothing Feds👎!
@allthehardtimes
@allthehardtimes Жыл бұрын
If he ever get brought up they might find another gabbi petito or white man cop to take your attention away
@USMADE-bb9ht
@USMADE-bb9ht Жыл бұрын
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.
@Marxone
@Marxone Жыл бұрын
If regulatory body made a request from the bank to comply with risk management, shouldn't the bank officials be prosecuted?
@margaretarross1712
@margaretarross1712 Жыл бұрын
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.
@theox73
@theox73 Жыл бұрын
worst part nobody goes to jail.
@scottmiller2591
@scottmiller2591 Жыл бұрын
The Fed "falls asleep at the wheel" over and over again. 3 times is enemy action.
@edwardkennedy3282
@edwardkennedy3282 Жыл бұрын
This is done on purpose to get the reaction they want. Everything done for a reason not an accident.
@richardmartyn7865
@richardmartyn7865 Жыл бұрын
I think the regulators need "stress testing"
@holidaymagic17
@holidaymagic17 Жыл бұрын
John k for president
@VMRTex
@VMRTex Жыл бұрын
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
@franklyandrewjames Жыл бұрын
not everybody when you consider the principles cashed out thier own holdings before the crash
@craigbenjamin196
@craigbenjamin196 Жыл бұрын
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.
@gyterdoneJP7315
@gyterdoneJP7315 Жыл бұрын
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.
@kirkw.72
@kirkw.72 Жыл бұрын
Forbes, please add to the description who these pols are talking to. Thank you.
@cathaldeveney7488
@cathaldeveney7488 Жыл бұрын
KZbin is cancelling
@kimberlysweetman2369
@kimberlysweetman2369 Жыл бұрын
They certainly don’t want the last question answered. It might make them all look derelict. We wouldn’t want that.
@davecody5997
@davecody5997 Жыл бұрын
As I was bullshitting
@richardmartyn7865
@richardmartyn7865 Жыл бұрын
How much do these regulators pay themselves ?
@williamnelson9332
@williamnelson9332 Жыл бұрын
Oh and government employees never get fired have to change that too
@larrymoore8094
@larrymoore8094 Жыл бұрын
The Chairman talks and says nothing, trying to excuse his ineptness...
@oldcynic6964
@oldcynic6964 Жыл бұрын
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
@kencole781 Жыл бұрын
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,
@markfcoble
@markfcoble Жыл бұрын
❤ Foxes watching the coop. Revolving doors!
@kencole781
@kencole781 Жыл бұрын
More circle as I see it.
@jmbrady1
@jmbrady1 Жыл бұрын
its almost as if banks and the federal reserve can't be trusted
@michaelbourbon8815
@michaelbourbon8815 Жыл бұрын
How are these people actually hired?
@johnwehunt4305
@johnwehunt4305 Жыл бұрын
It's a fing wej.
@AWESOME20527
@AWESOME20527 Жыл бұрын
The dude kept leaning back to avoid the questions and matter at hand
@debbibeers5720
@debbibeers5720 Жыл бұрын
Live by your words Kamala
@robertwalker1079
@robertwalker1079 Жыл бұрын
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
@1965Grit Жыл бұрын
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
@cdonnelly5566 Жыл бұрын
This man finds the most politically correct way to slap the shit out of a baby
@matthewwilliams6095
@matthewwilliams6095 Жыл бұрын
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 😂
@thailandsnippets901
@thailandsnippets901 Жыл бұрын
Sorry I meant they join the Public Sector, not Private
@benn4764
@benn4764 Жыл бұрын
The bank cheat
@craigbenjamin196
@craigbenjamin196 Жыл бұрын
How u make a rich person money be safe. U get america tax people to safe guard it.
@felsman8377
@felsman8377 Жыл бұрын
They all looked the other way when they could guess it was gonna turn into quicksand
@stephenbarrett3763
@stephenbarrett3763 Жыл бұрын
Are them hand juesturs gang slang
@pvttj8572
@pvttj8572 Жыл бұрын
Arrest bonespurs. Miserabilis cultus. Republican. Deplorable s.
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