signature banks, founders scott shay was forced to watch this old video of himself possible the i happen to know for a fact that won't happen is to show you and the video arch. yes, i mean that video and you show that video to the public. um the, the video was designed as a morale boosting, but did you show it to the palm who it was shown at the employee parties? but it was silicon valley's former chief who went to hawaii the day after his bank failed. that drew the most outrage, did you have a chance to walk on the beach, sit on the beach and when you did? did you think about what you've done to these people? the last time that silicon valley's seo testified before congress was to lobby for rolling back banking regulations in 2018. he guy, what he wanted and his bank grew as a result. now, congress is considering retiring those rules, but only after putting those bank losses feet to the fire. heidi joe castro algae 0 washington. authorities in ukraine have detained the head of the supreme court in a high level corruption pro ukrainian. m. p says so followed me as it was detained in conn

superintendent harris, earlier today on panel one, we had scott shay, cofounder of signature bank and he indicated he didn't think it was necessary for the regulators to close signature bank. can you address is claimant explain the decision to close the bank? >> absolutely. under my authority, banking law section 606 of new york i had the authority to take possession of a bank if operating in an unsafe and unsound manner or operating in an unauthorized manner. in this case we knew the bank had at least $4 billion shortfall at the time we took it over, this in a. to demonstrate credible liquidity strategy and i will give you one example which is on saturday afternoon they said to us they have 5. one billion dollars in pledgesable securities, 35 minutes later they revise the estimate down to $900 million. regulars and ability to get a clear incredible liquidity plan made clear they would not be able to offer in a safe and sound manner. >> follow-up my colleagues question. mr. becker was the only one who said or halfway acknowledged or took responsibility as being the president. do you t

will be a meeting with gregory becker as well as signature bank's former chairman and co-founder scott shayr chairman eric howell all set to testify a scheduled hearing is set to occur days later for michael barr and fdic chair martin grueneberg >>> florida governor ron desantis signing new rules the new law prevents state officials from investing public money to promote esg goals and ban sales. the legislation marks one of the widest reaching efforts yet by republican leaders against sustainable investing efforts. >>> and house democrats launching a long shot effort to bypass republican leaders in that chamber to try and force a vote to raise the debt ceiling the strategy known as a dischance petition, that would force action on a bill that's backed by a majority of house lawmakers, but democrats would need five republicans willing to get on board with that plan, frank. >> a lot of political wrankling c up there's going to be a lot more football terms like hail marys that a lot more to come. >>> turning our attention back to the fed we're hours away from the if fed's latest rate decision a

three years later signature bank cofounder scott shay raising the stakes on becker's that we find it ridiculous and unacceptable that by virtue of current one day pass $50 billion will be burdened with rules intended for the maga too big to fail blanks but we strongly believe are not even the same zip code as being systemically important to the u.s., to new york to even midtown manhattan. turns out they were both very, very wrong. on tuesday we also heard a lot of blame place on regulators. we note regulars toward these banks over and over for there were glaring risks on their balance sheet prints fair to say there will be regular should have been tougher and stronger. as senator tester said in this hearing two days ago, they should have dropped the hammer. but let's think about why the hammer did not come down so hard. the strongest hammers were taken out of the toolbox. it is not a coincidence of both banks rapid growth started 2019 right after the trump bank regulars gold backed rules for banks of that size. bankers like greg becker and scott shay and their lobbyists begged for we

meanwhile former signature ceo scott shay says his bank failed due to turbulence in the cryptocurrencyhe bank was overexposed, but at no time did it ignore any warnings from regulators, and he claims he was actually advocating for more regulation before the bank failed at all times i advocated for measured and different. and different regulation for banks. glad to hear you say that now because it's too little too late. the f d i c is now proposing higher fees for the biggest banks to cover the cost of future bank failures in washington. mike emanuel fox news. this is ktvu fox two news at six. and armed attack on a nanny with a toddler at oakland neighborhood. the woman was pushing the child in a stroller when she was attacked. i was upstairs working and i could hear blood skirt, curdling scream and a woman just yelling. the woman who was attacked, says the suspects fired a gun and that that toddler was struck by shrapnel. good evening, everyone i'm heather holmes mike mibach. it is just the latest robbery to happen in oakland's trestle glen neighborhood. ktvu crime reporter henry lee h

signature banks, founders scott shay was forced to watch this old video of himself. possible the i happen to know for a fact that won't happen is to show you and the video orange. yes, i'm in that video and you show that video to the public. um the, the video was designed as a morale boosting, but did you show it to the palm who it was shown at the employee parties? but it was silicon valley's former chief who went to hawaii the day after his bank failed. that drew the most outrage, did you have a chance to walk on the beach, sit on the beach and when you did? did you think about what you've done to these people? the last time that silicon valley's c o testify before congress was to lobby for rolling back banking regulations in 2018. he got what he wanted and his bank grew as a result. now congress is considering re titling those rules, but only after putting those bank losses feet to the fire. heidi jo, castro algae 0 washington. a gentleman quote has convicted 5 men of a, one of the largest jewelry robberies in recent times. they was sentenced to between 4 and 6 years in prison. and nov

scott shay cofounder jeremiah signature bank and mr. michael roffler former ceo present first republic bank. we thank each of you for big taken the time to be here for you each be recognized for five minutes giving oralro presentatn of your testimony without objection each of your written statements will be made part of the record. mr. becker you are now recognized for fivel minutes. chairs, bar and ranking members of foster and green and members of the subcommittee. thank you for the opportunity to appear before you today. my name is gregory becker i was the ceo of siliconem valley ban. i am here today to answer your questions about what happened at my memory.best of at the outset i want to be clear and never envision myself being in this situation. i was an employee for svp for nearly 30ea years and ceo for te last 12 years until his taken over by the fdic. i believed in the bank at its mission and cared deeply about our more than 8000 employees and their families. i was committed to our clients and helping them succeed whether they w

shay. tank. you >> chairman brown. ranking member scott. members of the committee.thank you for the opportunity to be here to discuss signature bank and my role as chairman of the board. in 2000, i cofounded signature bank. at the time, the banking industry was experiencing many mergers and many big banks were not serving the needs of middle market consumers. i felt the a mid sized bank would provide an important commercial service to businesses that preferred a smaller, more personal banking experience. signature bank followed a single point of contact approach, which the banks client teams personally served the needs of small and medium sized businesses. our bank had a diverse group of clients, including industrial companies, commercial real estate firms, health care providers, professional service firms, nonprofits, and many others. we placed a priority on providing financing to affordable housing providers in low and moderate income areas, and it's so for many years. through the herberg and dedication of our employees, we went from a small bank with 40 million o

shay. tank. you >> chairman brown. ranking member scott. members of the committee.thank you for the opportunity to be here to discuss signature bank and my role as chairman of the board. in 2000, i cofounded signature bank. at the time, the banking industry was experiencing many mergers and many big banks were not serving the needs of middle market consumers. i felt the a mid sized bank would provide an important commercial service to businesses that preferred a smaller, more personal banking experience. signature bank followed a single point of contact approach, which the banks client teams personally served the needs of small and medium sized businesses. our bank had a diverse group of clients, including industrial companies, commercial real estate firms, health care providers, professional service firms, nonprofits, and many others. we placed a priority on providing financing to affordable housing providers in low and moderate income areas, and it's so for many years. through the herberg and dedication of our employees, we went from a small bank with 40 million o