.POTUS is hoping to turn SVB's collapse into a legislative victory, but he'll face plenty of GOP resistance along the way. Echoing Biden, Democrats are sounding the alarm on Capitol Hill.
The president spent last week calling to reinstate banking regulations that were rolled back five years ago while seeking new punishments for banking executives whose operations fail."I'm firmly committed to accountability for those responsible for this mess," Biden said Friday."No one is above the law — and strengthening accountability is an important deterrent to prevent mismanagement in the future."Sen. Elizabeth Warren and Rep.
For one, 17 Senate Democrats voted to approve the rollback on midsized banks, as did 33 Democrats in the House. But Republicans also point to existing regulations that should have placed a red flag over SVB, arguing that better enforcement is the answer. Some conservatives argue that banks will work their way around any new regulations and question the need for government interference in the sector.
Any accompanying fact sheet cited the SVB CEO reportedly selling more than $3 million worth of shares before the collapse as activity that should be regulated.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Republicans tout 'new evidence'' against Joe Biden's children'At a minimum, it's a terrible look [for the Bidens],' former federal Prosecutor Neama Rahmani told Newsweek.
Baca lebih lajut »
March Madness: President Joe Biden sneaks in NCAA tournament brackets after first game tipsPresident Joe Biden is a busy man.
Baca lebih lajut »
Biden Budget Proposal Includes Billions for Cancer MoonshotPresident Biden's proposed 2024 budget, released last week, asks Congress for more than $2.8 billion in federal funding to support 'CancerMoonshot.' OncTwitter
Baca lebih lajut »
Biden climate legacy at stake after backlash over WillowPresident Joe Biden has made fighting climate change a core part of his agenda
Baca lebih lajut »
Biden climate legacy tested by backlash over Willow projectPresident Joe Biden has made fighting climate change a core part of his agenda.
Baca lebih lajut »
Will Americans end up footing the bill for bank failures?President Joe Biden has insisted that no taxpayer money will be used for 'bailing out' banks.
Baca lebih lajut »