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INSANE: 38 - The Real Truth

Biden urges ‘accountability’ for executives of failed banks

US president calls on Congress to impose tougher penalties on senior officials of banks that fail due to mismanagement.

Al Jazeera

New Regulations Won't Stop the Next Bank Collapse

Plus: Another campus free speech debacle, foreign cheese groups lose Gruyere trademark case, and more...

Reason

SVB, First Republic CEOs involved in lobbying pre-banking crisis

In late January, First Republic Bank's CEO wrote to U.S. regulators saying his bank did not pose signficant risk to the U.S.'s financial stability.

Fortune

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Editorial: Don’t let incompetent bank executives derail the Fed’s inflation battle

Democratic U.S. Sen. Elizabeth Warren thinks she knows who to blame for the collapse of Silicon Valley Bank, and the financial fallout that followed.

Chicago Tribune

Experts, banks look for ideas to stop next bank failure

The warning signs were all there

The Independent UK

Elizabeth Warren says Republicans handed Fed chairman ‘flamethrower that he aimed at the banking rules’

The Massachusetts Democrat blames a 2018 law that Donald Trump signed weakening financial regulations

The Independent UK

Lawmakers are split on how to respond to the recent bank failures

Days after the failure of two regional banks shook the financial industry, lawmakers say they want answers but disagree on what role Congress should play right now.

WEKU

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U.S. Sen. Bernie Sanders endorses Johnson in April 4 mayoral runoff

Paul Vallas touted endorsements from the Chicago Fire Fighters Union Local 2, former Illinois Senate President Emil Jones Jr. and five City Council members.

Chicago Sun-Times

Elizabeth Warren slams Powell for weak regulation, oversight of SVB

Senator Elizabeth Warren blasted Federal Reserve Chair Jerome Powell for “an astonishing list of failures” that contributed to the collapse of Silicon Valley Bank and Signature Bank in a letter to the Fed chief Wednesday.

Tribune News Service

Top GOPer: No need for tougher bank rule

Critics say Mike Crapo's law exempting SVB and others from stricter requirements led to collapse

Salon

Robin Abcarian: Reports of a rift between Kamala Harris and Elizabeth Warren play into Republican hands

There are so many ways to delegitimize a woman in politics: Attack her for the sound of her laughter, for shedding a tear on the campaign trail, for her choice of clothing, for being cranky with her staff or eating her salad with a comb.

Los Angeles Times

Rep. Katie Porter comes to Northern California for Senate campaign: ‘I see Sacramento as distinct’

SACRAMENTO, Calif. — Southern California Senate hopeful Rep. Katie Porter, D-Irvine, made her first Sacramento-area campaign stop Wednesday at UC Davis — what she called “a little slice of heaven” — in an hour-long meet-and-greet with the Davis College Democrats.

Tribune News Service

Warren bill: Repeal "Trump's bank law"

Notably absent from the list of co-sponsors were Dems who helped Republicans usher the bill through Congress

Salon

Feds approve major railroad merger despite growing concerns over rail safety

Federal regulators have approved the $31 billion merger of Kansas City Southern railroad with Canadian Pacific.

Tribune News Service

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Roll Call

Lawmakers from both parties skeptical of legislation over SVB - Roll Call

President Biden's call for a legislative response to the SVB collapse is meeting skepticism from members of both parties on Capitol Hill.

The Independent UK

How the last banking tumult fuels today's populist politics

Mike Pence and Bernie Sanders are hardly political allies

Fortune

Elizabeth Warren is among the furious politicians demanding SVB execs return their salaries, bonuses, and $84 million in stock sale profits

Sen. Elizabeth Warren says SVB execs should give back their salaries for “facilitating a near-economic disaster.”

Salon

Barney Frank got paid by Signature Bank

Rep. Barney Frank pushed to water down Dodd-Frank law after getting $1 million from bank that collapsed

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Salon

"Woke" billionaires, same as old ones

Ignore GOP hype about the "liberal" tech industry — reckless, entitled libertarianism is what fuels Silicon Valley

Axios

Political blame game erupts over SVB failure

Each side is seizing on the themes already animating their economic message heading into 2024.

Fortune

Elizabeth Warren knows exactly why Silicon Valley Bank failed—and who should pay

SVB CEO Greg Becker himself was one of many voices advocating for Dodd-Frank to be loosened. Oops.

Reason

How the Fed Broke Silicon Valley Bank

The Fed's anti-inflation measures had to hurt someone.

The Independent UK

Kamala Harris isn’t returning Elizabeth Warren’s calls after VP slight, report says

Democrats’ consternations about strength of Biden’s 2024 ticket are opening old wounds

Chicago Sun-Times

Progressive firebrand Elizabeth Warren endorses Brandon Johnson in April 4 runoff

Warren tweeted her endorsement of Johnson to her 5.9 million followers. But her greatest value to Johnson is in consolidating his progressive base and boosting turnout that was just over 35% on Feb. 28.

Fortune

The billionaire cofounder of Home Depot compares the Fed to ‘the gang that can’t shoot straight’ and says the coming crash is ‘not going to be pretty’

“My problem with the Fed, overall, is there’s too many academics in the mix,” Ken Langone said Wednesday.

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