The collapse of Silicon Valley Bank (SVB) and the shockwaves it sent through the world's financial system were all too predictable and preventable. It's time we stopped letting the bankers get away with their reckless behavior.
The executives at SVB insisted on exempting their bank from the normal banking protections so they could gamble, betting that the government would bail them out if they made a bad play. While the companies that kept their money in the bank deserve to be bailed out, there needs to be some serious consequences for the bankers themselves.
Tell Congress to bring the hammer down on greedy bankers!
President Biden has called on Congress to tighten regulations and hold bankers accountable for their actions — whether by clawing back compensation from executives, imposing civil penalties or banning executives from working in the banking industry again.
For far too long, America's big banks have cried for rescue whenever their bets don't pay off and go back to business as usual the second they get a bailout. Enough is enough!
Tell Congress to hold bankers accountable for their reckless actions!