Order. The joint subcommittee hearing is titled concern continued oversight on Regional Bank failures. Without objection, all members will have five legislative days to submit extraneous materials to the chair for inclusion in the record. Without objection, the chair is authorized to declare a recess of the committee at any time. With that, i now recognize myself for four minutes. Todays hearing will help the Financial Services committee learn more about recent Bank Failures, including management missteps, supervisory failures, and rapid fire bank runs in the age of social media. I think our witnesses for testifying today. The recent banking crisis was fueled by failed Bank Management, lack of hedges against Interest Rate risks, failed military policy, failed supervision, and overspending by the administration and democrats that led to historic inflation, prompting increased Monetary Policy action. Today, we will hear about what went wrong from the Bank Management themselves in state r
Is titled concern continued oversight on Regional Bank failures. Without objection, all members will have five legislative days to submit extraneous materials to the chair for inclusion in the record. Without objection, the chair is authorized to declare a recess of the committee at any time. With that, i now recognize myself for four minutes. Todays hearing will help the Financial Services committee learn more about recent Bank Failures, including management missteps, supervisory failures, and rapid fire bank runs in the age of social media. I think our witnesses for testifying today. The recent banking crisis was fueled by failed Bank Management, lack of hedges against Interest Rate risks, failed military policy, failed supervision, and overspending by the administration and democrats that led to historic inflation, prompting increased Monetary Policy action. Today, we will hear about what went wrong from the Bank Management themselves in state regulators. This is important, as the c
Housing, in urban affairs will come to order. The days after the run on Silicon Valley bank, when it was close by the california banking regulators and taken over by the fdic many in washington, new york, in california asked, how did this bank and Signature Bank, soon after, failed so spectacularly . Was it the regulators falling down on the job . Was it new technology . The first social media fueled bank ran . How on earth could this happen . In ohio, the, no one is surprised by the hubris of coastal Bank Executives. The old adage has become cliche because it is so often true. The simplest explanation is best. It is first and foremost the bankers fault that the banks crashed. We know that federal and state banking officials repeatedly told managers and directors of your banks where there were problems, big problems the kind of problems you cant ignore. The tiny you have to start fixing right away. Bank executives did not listen. That is a well documented fact Silicon Valley banking si
everyone. it s a busy one. such a busy week. this is something the top headline that people in d.c. were talking about on friday. there was speculation about gary coc coc he could cohen. let s get start ond may 1st. breaking overnight, regulators seizing control of first republic bank and striking a deal to sell most assets to jpmorgan chase. this is the second largest bank failure in u.s. history. also this morning, zero leads as fbi agents in texas say they do not know where a mass shooting suspect is and right now have no leads. they re now offering an $80,000 reward for a man that killed five people and a 9-year-old boy. american citizens are getting help escaping out of sudan. also, the clock is ticking in hollywood f a new contract deal is not reached by midnight, the writer s gild of america will walk off the job. and steph curry scored 50 points, most ever in a game seven. warriors advancing to take on the lakers. cnn this morning starts right now. this
mismanagement in the supervision led to the collapse of two banks. what could fall in the days ahead. live from cnn, this is cnn newsroom with kim brunhuber. we begin this hour with extreme weather ahead for most of the country. more than 20 million people are under threat for severe storms across the southeast. two rounds of strong thunderstorms are expected to cross florida and southern georgia today. when this afternoon, the second overnight. the main threats will be damaging wind, hail. in texas, dozens of reports friday, reporting golf-ball- sized trailed 39 hail . it went for several minutes, but likely never will measure, also a possible tornado in palm beach county. nudges wind and hail, the mississippi river continues to rise, flooding many communities around the banks. the water has already crested in some. here is the latest. as the river level rises, anxiety is also going up for business owners here in iowa. you can see where the partridges are the embankm