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He ApplicationFiling Federal Reserve Bank Form

He ApplicationFiling Federal Reserve Bank Form

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everyone on this nice bright sunny sunshiny day without objection the chair May declare a recess at any time I recognize myself for the purpose of making an opening statement Banks fail that's a fact but on March 10th Silicon Valley Bank failed nearly overnight the speed that it failed raised immediate concerns not only of poor management at the bank but of a failure of oversight as well evidence that that has surfaced since that since then has shown exactly that absolutely there was incompetence at the top of the bank management the board they all failed but the people we have entrusted and empowered to protect the taxpayer and our financial system had as much to do with Silicon Valley Bank's failure as the bankers themselves even the Federal Reserve has publicly taken some blame in my first few years in Washington one thing has been clear government agencies aren't good at taking accountability for their failures and I always say this we can't fix a pr

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