Silicon valley bank and Signature Bank collapse. S. The hearing took place before a House Financial Services subcommittee and runs about 90 minutes. Without objection, all members will have five legislative days to submit extraneous materials to the chair for inclusion in the record. I would like to take five minute heres for a brief opening statement. Mr. Huizenga congressional oversight a a constitutional authority, used to maintain the well being of government. This is a lesson i learned from my fellow congress sorry, weve got to make sure we get the timer going. There we go. This lesson of oversight was something that i learned from someone who is considered the lion of the house, john dingell. He was still in congress when i first came here and he taught me a couple of things. One, he called it the tyranny of the vote. Didnt matter who you were with, what you were doing, what was happening or where you were. When they rang the bells we had that time to go to the house floor to vot
Minutes. Without objection, all members will have five legislative days to submit extraneous materials to the chair for inclusion in the record. I would like to take five minute heres for a brief opening statement. Mr. Huizenga congressional oversight a a constitutional authority, used to maintain the well being of government. This is a lesson i learned from my fellow congress sorry, weve got to make sure we get the timer going. There we go. This lesson of oversight was something that i learned from someone who is considered the lion of the house, john dingell. He was still in congress when i first came here and he taught me a couple of things. One, he called it the tyranny of the vote. Didnt matter who you were with, what you were doing, what was happening or where you were. When they rang the bells we had that time to go to the house floor to vote. The other was, our constitutional standing, our obligation, frankly, of oversight of administration. And he was an expert at that. Didnt
Democracy. Watch video on demand any time online at cspan. Org. And try our points of interest feature, a timeline tool that uses markers to quickly guide you to news worthy and interesting highlights of our coverage. Use points of interest any time online at cspan. Org. Michael cn official at the Government Accountability office, testifies on his agencys review of now Michael Clements testifies on his agencys review of the Signature Bank and Silicon Valley bank collapses. This runs about 90 minutes. Without objection, all members will have five legislative days to submit extraneous materials to the chair for inclusion in the record. I would like to take five minute heres for mr. Huizenga i would like to take five minute heres far brief opening state. Congressional oversight is a Constitutional Authority used to maintain the well being of our system of government. This is a lesson i learned from my fellow congress sorry surt the timer going. There we go. This lesson of oversight was so
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
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