Legislators Agree Bank Closure Fallout Requires Action

Promise to subpoena SVB CEO after two-week district break

Senators began a two-week break to do local work in their respective states, but not before communicating their agreement to hold the leaders of Silicon Valley Bank (SVB) accountable for its catastrophic closure in March. A recent filing made to the Securities and Exchange Commission shows that the former CEO of SVB Greg Becker sold $3.5 million in stocks just 11 days before the bank collapsed.

“If you look at their stock transactions, these guys offloaded a lot of worthless equity,” Senator J.D. Vance told reporters on Thursday. “They had to know it was worthless. They made off like bandits, but of course the American taxpayer got stuck with the bill,” he said.

“If we subpoena them, and I hope that we will subpoena them, I expect they’ll show up,” Vance said. “I suspect the SVB bailout and crisis is going to be a main focus in April and May.”

As the Lord Leads, Pray with Us…

  • That U.S. Senators have a productive two weeks serving their state constituents.
  • That Senators reconvene with fresh perspectives on how best to advocate for their states.
  • For Congress as they work to enforce and tailor American law for the sake of domestic livelihood.

Sources: Department of Energy,


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