Regulators question banking failures and safety of deposits.
TL;DR Summary
As the US Senate Banking Committee prepares to examine Goldman Sachs' role in the collapse of Silicon Valley Bank (SVB), journalist Allan Sloan suggests that the committee should demand that Goldman turn over the profit it made from buying $24bn of securities from SVB at a below-market price to the federal government as compensation for the financial damage caused by SVB's collapse. Sloan argues that this would instill in Wall Street the fear of making unseemly profits on the financial distress of others and prevent future SVB-like problems.
Topics:business#finance#financial-distress#goldman-sachs#profit#senate-banking-committee#silicon-valley-bank
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