Michael Barr, Vice Chair for Supervision at the Federal Reserve, and Martin Gruenberg, Chairman of the Federal Deposit Insurance Corporation (FDIC), are set to testify before the Senate Banking Committee on Tuesday. Barr's testimony details the mismanagement of Silicon Valley Bank (SVB) and Signature Bank, which led to their collapse and the FDIC's appointment to manage them. Gruenberg estimates that SVB's failure will require $18 billion to cover uninsured deposits, while Signature Bank's failure will require $2.5 billion.
Posts tagged as “Barry Burden”
Wisconsin voters will head to the polls on Tuesday for a primary election that could shape the future of abortion rights, voting rights, and redistricting in the state. The race is to replace a retiring conservative justice on the state Supreme Court, which currently has a 4-3 conservative majority and could have a significant impact on the 2024 presidential election. Millions of dollars in advertising have been reserved ahead of the primary election, which will narrow the field of candidates from four to two, and the outcome of the election will have a major impact on the future of the state.