"Goldman Sachs under scrutiny for role in Silicon Valley Bank collapse"

The recent collapse of Silicon Valley Bank has become a topic of discussion in California's 2024 U.S. Senate race, with candidates emphasizing the need for economic fairness and increased oversight of the financial sector. Rep. Katie Porter has been vocal about the issue, while her opponents, Reps. Barbara Lee and Adam Schiff, voted against the 2018 rollbacks of banking regulations. Schiff has introduced a bill to hold bank executives accountable for bank failures, while Porter and Sen. Elizabeth Warren have introduced a bill to increase oversight of banks with $50 billion or more in assets. The rising cost of living and economic inequality are key issues in the race.