Revelations 18:9-11 “The kings of the earth who committed fornication and lived luxuriously with her will weep and lament for her, when they see the smoke of her burning, 10 standing at a distance for fear of her torment, saying, ‘Alas, alas, that great city Babylon, that mighty city! For in one hour your judgment has come.’ 11 “And the merchants of the earth will weep and mourn over her, for no one buys their merchandise anymore
Important Takeaways:
- GOP Rep. Meuser: Fed Knew About SVB Problems in 2019, Let Them Double in Size
- Dan Meuser (R-PA) reacted to reporting from The Wall Street Journal that was confirmed by ABC News that the Federal Reserve knew of problems with Silicon Valley Bank (SVB) back in 2019 by pointing out that SVB doubled in size after these warnings and stating that Federal Reserve regulators failed to do their jobs.
- So, what we have now is we have some investigations [that are] going to take place. Our Financial Services Committee will have the Vice Chair of the Fed, Michael Barr. We’ll have the chairman of the FDIC in next week and look to get answers. But the real reason for the answers, Liz, is so we don’t put blame on the well-managed banks…by these mismanaged banks, because they are outliers.”
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