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
barrett on what more needs t be done to shore up our bankin system this is american voices. we begin this hour wit breaking news. donald trump declaring h expects to be arrested o tuesday in a post on his knockoff version of twitte truth social this is all in connection to the new york investigation int hush money paid to adult fil star stormy daniels just befor the 2016 election. now we should point out th manhattan da alvin bragg has not commenting on trump s post or the possibility of an indictment this week, trump s forme lawyer michael cohen testified before a grand jury in manhattan. back in 2018, cohen pleade guilty to making an illega payment to daniels to keep her quiet about an alleged affai with trump cohen had this to tie say abou trump s new comments t reverend al sharpton thi afternoon on msnbc the right thing to do is to leave it for alvin bragg when the indictment comes down we will all know look at the chaos that one tweet from donald trump ha caused nbc
[applause] thank you, sabrina. Thank you all for being here. As you know, recently there has been a lot more interest in the role banks play in global economies and communities, particularly when it comes to very big mergers. The failure of the silicate valley bank, generated a lot of talk and those of you who have been Community Groups on the front line, and crc on others, have been asking some tough questions about what we are doing to make sure banks are serving the community. More recently, there has been some announcement of big proposed mergers between credit card giants. In february, the Banking Industry sued the regulators regarding Community Reinvestment act. So i thought i would spend a little time today talking about how we should think about why banks serve communities and neighborhoods. I think a lot of people want to believe that banks are serving the underserved because it is charitable. So im going to first discuss some of the history about banking law and that terms co
Down so please thank me join me in thanking rob for coming today and book. And now i am so pleased to introduce tonights speakers gerald epstein. Ian is the professor of economics and codirector of the Political Economy Research institute at the university of massachusetts, amherst. He has published widely on a variety of progressive Economic Policy issues, especially in the areas of central banking and international finance. His previous books include the political economy of central banking contested and the power of finance and whats wrong with modern money theory . A policy critique. He is also a longtime member of the center for popular economics. Hell be joining in conversation tonight by juliet schor ford, professor in economics and associate energy at boston college. Gerald epstein is presenting his new book busting the bankers club finance for the rest of us. Bankers brought the Global Economic to its knees in 2011 and nearly did the same in 2020, both times the u. S. Governme