Elizabeth Warren criticizes 'overnight' bailout of SVB customers while leaving 'millions of student loan borrowers in limbo'
"On Sunday night, regulators announced they would ensure that all deposits at S.V.B. and Signature would be repaid 100 cents on the dollar. Not just small businesses and nonprofits, but also billion-dollar companies, crypto investors and the very venture capital firms that triggered the bank run on S.V.B. in the first place — all in the name of preventing further contagion," Warren wrote. required to protect deposits. We'll see if that's true," she continued.
Warren has long pushed for stricter oversight over big banks, along with protections for student-loan borrowers. Regulators' protections for SVB customers come asfor the Supreme Court to decide whether President Joe Biden's plan to cancel up to $20,000 in student debt is legal. With 45 million Americans holding $1.
"These bank failures were entirely avoidable if Congress and the Fed had done their jobs and kept strong banking regulations in place since 2018," Warren wrote."S.V.B. and Signature are gone, and now Washington must act quickly to prevent the next crisis."Subscribe to push notifications
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