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PUBLIC CITIZEN 3 of the 4 largest bank failures in U.S. history have all happened *this* year
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PUBLIC CITIZEN 3 of the 4 largest bank failures in U.S. history have all happened *this* year
by Paul Tue 06 Jun 2023, 10:02 am
I post these PUBLIC CITIZEN announcements . Solely as a source for information we may not otherwise get a chance to hear . While I most often agree with many of their causes . I post these as more informational than political .
Three of the four largest bank failures in U.S. history have all happened this year.
- The CEO of First Republic Bank — whose collapse this year is our nation’s second largest bank failure ever — made $17.8 million in 2021.
- The CEO of Silicon Valley Bank — whose collapse this year is our nation’s third largest bank failure ever — made $9.9 million in 2022.
- The CEO of Signature Bank — whose collapse this year is our nation’s fourth largest bank failure ever — made $8.6 million in 2022.
Senator Elizabeth Warren has just introduced legislation that would let the federal government claw back compensation from executives who drive Big Banks into the ground.
The Failed Bank Executives Clawback Act would give federal regulators the tools to hold executives responsible for the toll bank failures have on the rest of the banking system and the overall economy.
The legislation has bipartisan support — with Democratic senators like John Fetterman (Pennsylvania) and Raphael Warnock (Georgia), along with Republican senators like Josh Hawley (Missouri) and J.D. Vance (Ohio), all on board.
Click now to urge your senators to protect everyday Americans, our banking system, and our economy by passing the bipartisan Failed Bank Executives Clawback Act.
Thanks for taking action.
For progress,
- Robert Weissman, President of Public Citizen
Paul- Admin
- Posts : 46237
Join date : 2013-05-06 -
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