Monday, May 8, 2023

Now California's Bank Regulator Says They Also Dropped the Ball on Silicon Valley Bank

Click here to read the original Cautious Optimism Facebook post with comments

But we need a few thousand more regulations on top of the byzantine myriad of existing ones that oversight officials are already failing to keep up with.

-Signed, Cautious Optimism Economics Correspondent

"California's bank regulator said Monday that it was too slow to see the growing risks at Silicon Valley Bank and did not act forcefully enough to get the bank to fix its problems."

"A report from the California Department of Financial Protection and Innovation echoed similar findings in a Federal Reserve report looking at its own supervision of Silicon Valley Bank. The Fed was highly critical of its own role in the bank’s failure, saying its supervisors were also too slow or too unwilling to press the bank’s management to address issues."

Read "California's bank regulator finds own faults in bank's demise" at:

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