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Silicon Valley Bank

7 days ago

Elizabeth Warren demands Silicon Valley Bank CEO pay back FDIC in feisty hearing exchange

The Independent
The Independent
Elizabeth Warren demanded former Silicon Valley Bank CEO Gregory Becker take “accountability” and repay the Federal Deposit Insurance Corporation during a fiery Senate hearing.

“How much of the $40 million dollars that you earned from loading up SVB bank with risk are you planning to return to the FDIC?” Ms Warren asked.

“I know there’s going to be a process review of compensation,” Mr Becker responded, before dodging the question multiple times.

“Are you planning to return a single nickel, to what you cost the fund?” Ms Warren fired back, before concluding: “I’ll take that as a no”.
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