The Federal Reserve Bank of San Francisco is facing mounting criticism after Silicon Valley Bank, which was under its supervision, collapsed following a bank run by depositors.
Fox News contributor Kim Strassel responds to the bank failure and provides insight on ESG investing standards on 'Kudlow.'is mounting over the collapse of Silicon Valley Bank and reports that the Fed failed to adequately monitor the bank and order it to take corrective action before a disastrous bank run occurred.
The San Francisco Federal Reserve is facing mounting criticism over its failure to spot the warning signs that led to Silicon Valley Bank's failure and take action. Mary Daly, president of the Federal Reserve Bank of San Francisco, is facing criticism over the collapse of Silicon Valley Bank.that brought down Silicon Valley Bank earlier this month were developing for years. SVB’s customer base was heavy on Bay Area tech companies, particularly start-ups, and the bank grew rapidly in recent years as those businesses grew, becoming the fastest-growing bank in the U.S. over the past five years.
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