The Senate hearing on the collapse of SVB was embarrassing
Instead of addressing banking fears and setting up new rules and regulations, senators were simply looking for good soundbites.
Cryptocurrency news by Protos · Protos
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Show Notes
The Senate Banking, Housing, and Urban Affairs Committee, which consists of 23 senators, including cryptocurrency advocates like Cynthia Lummis and haters like Sherrod Brown, all convened to discuss the collapse of Silicon Valley Bank (SVB).
Unfortunately, instead of discussing how best to allay banking fears and concerns, hedging systemic risk, and setting up new rules and regulations, the senators used their time to yell at regulators to get a good soundbite for the next time they run for office.
Listen to how what could have been a useful educational experience turn into a stereotypical display of the circus that is American politics.
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