it was two years ago this week that silicon valley bank collapsed. two years ago tomorrow, to be exact. in that time, svb has recreated itself, still serving high tech and wineries in northern california. the way it used to, though, some of its executives and former executives are still facing lawsuits and government action. ken wilcox was ceo of the bank from the years 2000 to 2010. so to be clear, he was not there for the collapse and he's not being sued by the fc. he's written a new book about china, and we'll get to that. but i wanted to start with this anniversary. so, ken, your bank is back, though, part of a larger company that bought it, and it seems like trust is back. that's a tall order for a bank. i think we're getting there to the extent that i identify with the new svb. i say we and i hope we're getting there. it feels like we are. it was a terrible, terrible day though, two years ago now the ftc, fdic, ice, i should have said, is suing a number of bank executives in an attempt to recoup, you know, millions of dollars. i'm certainly not

as the fed's review noted, its supervisors did not fully appreciate silicon valley bank's vulnerabilitiess it grew in size and complexity. when risks were identified, they did not take sufficient steps to ensure that svb fixed those problems quickly. the result was the third largest bank failure in united states history. it was a supervisory failure. our financial regulatory agenda must start with a fundamental refocusing of supervisors' priorities. leadership must drive a culture that focuses on material risk taking, rather than box check -- checking. as such, i plan to use the financial oversight council, known as fsoc, and the president's working group on financial markets to drive change in our regulatory environment. we need our financial regulators singing in unison from the same song sheet. to be clear, this does not mean consolidation of agencies, but coordination via treasury, such that our regulators work in parallel with each other and industry. i am excited about the dynamic leadership that the president has put in place across the financial regulatory agencies to drive this p

in march two years ago, we saw the failure of silicon valley bank. svb marked the third largest bank failure in u.s. history and the largest sense the 2008 financial crisis, and yet, not a single federal regulator was held to account. in fact, fdic filed a lawsuit against bank executives, which accused svb of egregious mismanagement, and i agree. how is it that no bank supervisor has faced any consequences? with 30 mra's and m.r.i. a's that never had timely action, how can the people who are supposed to be our cops on the beat have not faced any recourse for such egregious failures? i simply don't understand. we must all address the fact that over the last four years, the biden administration and bidenomics have devastated, decimated, and destroyed working families. during joe biden's time in office, overall prices rose by over 20%, energy prices, 30 4%. transportation costs, 31%. groceries, 22%. and that is not all. thanks to bidenomics, 2/3 of americans have less than $1000 -- less than $1000 -- in their savings accounts. but there is good news. thi

the failure of silicon valley bank, the chairman brought this up. i'm just curious, we recognize a lot of banks out there look at this and it cost the other banks a lot of money. nobody has been fired, but you did indicate that it was a failure in the playbook. at the playbook been revised or can we expect that it will be revised? >> in a lot of ways it has been revised, yes. i could go into some detail. one thing that didn't happen was for example, the supervisor didn't follow through aggressively enough on things they'd said. if they had done that, that could well have been enough to stop it. but a lot of it was just not focusing enough directly on what was a very large amount of interest rate risk, a large portfolio of long-term securities matched up with an unstable funding base. and somehow people wrote about that, not the fed but others wrote publicly about this, and somehow we don't expect bank runs throughout set prices in this country and that is what it was. bank runs are incredibly damaging. i think everyone learned a lot from that and is

we saw a lot of deposits leaving banks after the collapse of the silicon valley bank. you feel that has all stabilized at this point. >> i think it stabilized for really good banks. i don't think that was a regional bank crisis like it was called. i think that was a poor bank model crisis. so the good high quality banks, that's certainly subsided. we didn't lose liquidity during that time. our liabilities on our balance sheet are solely our clients's, other index deposits are less than half a percent. maria: let me get your take on oversight and banking supervision at the fed rail reserve. we've been -- federal reserve. we've been reporting, i reported there was lobbying underway toward congress and toward the fed board that jay powell maybe won't have a person in charge of bank supervision. michael barr left the role last week. this is a presidential appointment which is why senators and congressmen from the financial services committee sent a letter to scott bessent saying we demand someone to oversee the banks. trump supporters are on the fed board, wahler and micke

a former silicon valley bank ceo weighs in two years after the bank's collapse.o the irish tech summit and a first time author takes

bank loans to small businesses. very important during biden years fed chair j powell swayed with the wind. and debanked and terrible supervision of silicon valley. j. powell provided identify a real mess, and president trump appointee mickey bowman will get the nod to become fed vice chair for bank super i supervision. now, scott b bessent defended trump's campaign to stop unfair trading practices and currency manipulation and intellectual property property theft, and president trump today paused the 25% tariffs on mexico and canada giving usmca, a 30 day prebrief, trump is ride about unfair trade -- trump is right about unfair trade, i spoke with bessent about this, there is no equivalent between communist china and united states for example, high time that trump's idea of reciprocity is put in place, if u.s. does not do it the world trade organization, will never do it. and our heartland industries will continue to suffer. mr. trump's review process may be a little disheveled at moment but pome policy itself is correct, king dollar will continue, he is very pleased that bond rates are coming down. and bessent is a growth guy, we talked about