Join me as FOX News, chat with Louisiana Senator John Kennedy, a member of the Judiciary Committee, who shares his candid and humorous thoughts on the current political landscape. From witty remarks about the president’s press secretary to his take on the recent debate, Senator Kennedy doesn’t hold back. Don’t miss this entertaining and insightful conversation!
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Also See This Video:
"You made a STUPID Bet That Went BAD!" Senator Kennedy (Republican) Questions Bank CEOs
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In this fiery exchange during a recent congressional hearing, Senator John Kennedy of Louisiana, a Republican, grilled executives of the now-failed Silicon Valley Bank (SVB) on their handling of assets amid rising interest rates. The spotlight was on Mr. Becker, the former CEO, as Senator Kennedy probed the bank's heavy reliance on government bonds and its failure to implement hedges.
As interest rates climbed, the value of SVB's assets, primarily invested in long-term government bonds, plummeted. Senator Kennedy pointedly questioned Mr. Becker on the absence of hedges, a risk management strategy to mitigate such market fluctuations. The CEO, however, seemed uncertain about the specifics of the hedging decisions, revealing a lack of access to crucial SVB documents.
The senator continued to press on the financial implications of not hedging, emphasizing that purchasing hedges would have incurred costs and reduced profits. Mr. Becker, attempting to navigate the grilling, admitted uncertainty regarding the details but underscored the complexity of financial decision-making.
Senator Kennedy did not mince words, characterizing the bank's actions as a "stupid bet" that ultimately required the American taxpayers to foot the bill for SVB's mistakes. The senator lambasted the executives for putting "all their eggs in one basket" and failing to anticipate the foreseeable consequences of rising interest rates.
The hearing concluded with Senator Kennedy painting a vivid picture of the bank's flawed decision-making, describing it as "bone deep down to the marrow stupid." The exchange underscored the repercussions of SVB's financial missteps and raised questions about the oversight and risk management practices within the banking sector.
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[ Ссылка ] website, Explains utilizing established public TV stations to voting on local issues. See This Video - [ Ссылка ]
OneVoiceNow.org is a website that promotes a new way of democracy and communication in the digital age. It proposes a system where every citizen can have a voice and a vote on local issues, using their TV and phone. The website explains how this system works, what are the benefits and challenges, and how to start a One Voice Now Coalition in your community. The website also features videos, articles, and a book that explore the concept of One Voice Now and its potential to transform public media and voting.
In this video, you will learn more about OneVoiceNow.org and its vision of empowering the people to solve the problems of today and make the world a better place for the children of tomorrow. You will also hear from David Frank, the founder of One Voice Now and the author of the book "300 Million Minds: Changing America Piece by Peace". He will share his insights and experiences on how to use technology to create a more direct and participatory democracy.
Thank you for watching. 😊
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