Congressman DeSaulnier Statement on Collapse of Silicon Valley Bank

Washington, DC – Today, Congressman Mark DeSaulnier (CA-10) issued the following statement on the collapse of Silicon Valley Bank.

“I am deeply concerned about the sudden collapse of Silicon Valley Bank and the impact this will have on consumers, workers, responsible business owners, and the Bay Area,” said Congressman DeSaulnier. “In this time of historic income inequality, it is clearer than ever that working Americans must be protected from corporate greed and mismanagement. I will continue to work with my colleagues to ensure the FDIC holds the bank’s leadership and regulators accountable, and that they are doing everything possible to keep customers updated and prevent losses. Moving forward, we must determine what caused this failure and adjust oversight and regulation if needed in order to prevent future collapses.”

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