{"id":1933189,"date":"2023-05-18T07:19:26","date_gmt":"2023-05-18T11:19:26","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/watch-gop-senator-utterly-humiliates-silicon-valley-bank-executive\/"},"modified":"2023-05-18T07:21:12","modified_gmt":"2023-05-18T11:21:12","slug":"watch-gop-senator-utterly-humiliates-silicon-valley-bank-executive","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/watch-gop-senator-utterly-humiliates-silicon-valley-bank-executive\/","title":{"rendered":"GOP Senator humiliates Silicon Valley bank executive in video."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fwatch-gop-senator-utterly-humiliates-silicon-valley-bank-executive%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1933189&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Senator John Kennedy Blasts Former Silicon Valley Bank CEO for &#8220;Stupid&#8221; Decisions<\/h2>\n<h3>Background:<\/h3>\n<p>Former Silicon Valley Bank CEO Greg Becker faced a tough grilling from Senator John Kennedy (R., La.) during a Senate Banking Committee hearing on Tuesday. The bank failed in March, and Kennedy was determined to get to the bottom of why.<\/p>\n<h3>The Exchange:<\/h3>\n<p>Becker tried to shift the blame away from himself, citing &#8220;unprecedented events&#8221; and media coverage that sparked a bank run as the main factors in the bank&#8217;s demise. But Kennedy wasn&#8217;t having it. He pressed Becker on why the bank wasn&#8217;t hedged, and Becker claimed ignorance, saying the decision was up to a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/byu-rooting-out-racism-task-force-calls-for-race-conscious-religious-curriculum-admissions-standards\/\" title=\"BYU \u2018Rooting Out Racism\u2019 Task Force Calls For \u2018Race-Conscious\u2019 Religious Curriculum, Admissions Standards\">separate committee<\/a>.<\/p>\n<p>&#8220;You&#8217;re the CEO and \u2026 you had 55 percent of your assets in government bonds, and you didn&#8217;t know whether you were hedged or not?&#8221; Kennedy said.<\/p>\n<h3>Kennedy&#8217;s Reputation:<\/h3>\n<p>Senator Kennedy is known for his tough questioning style in committee hearings. In fact, his questions stumped President Joe Biden&#8217;s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/watch-gop-senator-utterly-humiliates-silicon-valley-bank-executive\/\" title=\"GOP Senator humiliates Silicon Valley bank executive in video.\">judicial nominees earlier<\/a> this year.<\/p>\n<h3>The Verdict:<\/h3>\n<p>Kennedy didn&#8217;t hold back, calling Becker&#8217;s decisions &#8220;stupid&#8221; and accusing him of making a &#8220;bone-deep, down-to-the-marrow stupid&#8221; bet that ultimately cost taxpayers. Becker pointed to a series of events that led to the bank&#8217;s failure, but Kennedy wasn&#8217;t convinced.<\/p>\n<h3>Takeaway:<\/h3>\n<ul>\n<li>Senator John Kennedy is not afraid to ask the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/white-house-we-cant-guarantee-covid-19-relief-by-march\/\" title=\"White House: We can\u2019t guarantee COVID-19 relief by March\">tough questions<\/a>.<\/li>\n<li>Former Silicon Valley Bank CEO Greg Becker faced a harsh grilling during a Senate Banking Committee hearing.<\/li>\n<li>The bank&#8217;s failure in March was attributed to a series of events and media coverage that sparked a bank run.<\/li>\n<li>Becker claimed ignorance when pressed on why the bank wasn&#8217;t hedged.<\/li>\n<li>Senator Kennedy accused Becker of making a &#8220;stupid&#8221; bet that cost taxpayers.<\/li>\n<\/ul>\n<p>Overall, the exchange between Senator Kennedy and former CEO Becker was intense and revealing. It&#8217;s clear that Kennedy is not afraid to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/d-c-mayor-congress-must-open-a-probe-into-security-failures-at-u-s-capitol\/\" title=\"D.C. Mayor: Congress must open a probe into security failures at U.S. Capitol\">hold people accountable<\/a> for their actions, and Becker&#8217;s responses left much to be desired. It remains to be seen what the fallout from this hearing will be, but one thing is for sure: Kennedy will continue to ask the tough questions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Senator John Kennedy criticized former Silicon Valley Bank CEO Greg Becker for &#8220;stupid&#8221; decisions that led to the bank&#8217;s failure in March. During a Senate Banking Committee hearing, Becker placed little blame on himself, citing &#8220;unprecedented events&#8221; and media coverage that sparked a bank run as the main causes.<\/p>\n","protected":false},"author":164,"featured_media":1933190,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[544],"tags":[5373,3741,6203,4983,4012,8107,8109,4440],"class_list":["post-1933189","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-free-beacon","tag-bank","tag-executive","tag-gop","tag-humiliates","tag-senator","tag-silicon","tag-valley","tag-video"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1933189","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/164"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1933189"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1933189\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1933190"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1933189"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1933189"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1933189"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}