'You owe your customers and the public an explanation for the economically disastrous outcomes...you worked hard to weaken the rules...then destroyed it with bad decision-making,' Warren wrote. Warren seeks explanations for 'disastrous' SVB bank collapse:
), Sen. Elizabeth Warren is demanding answers from a bank she says engaged in "excessive risk-taking" while leaning on a "get-rich-quick narrative" during its foray into the crypto world.
Warren says DePaolo suggested Signature Bank, which had already amassed over $45 billion in assets by mid-2018, was too small to have significant impact on the soundness of the financial system. Sen. Elizabeth Warren, D-Mass., questions Federal Reserve Chairman Jerome Powell during the Senate Banking, Housing, and Urban Affairs Committee hearing titled The Semiannual Monetary Policy Report to the Congress, in Hart Building on Tuesday, March 7, 2023.
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