After the second- and third-largest bank failures in U.S. history, lawmakers are seeking more than just answers—they want money. In a letter to Greg Becker, the CEO of Silicon Valley Bank’s parent company SVB Financial, Massachusetts Sen. Elizabeth Warren asked if executives would return the bonuses and salaries they earned “in the last five years” before their bank collapsed.
“While you and company executives appear to have been successful in cashing out before the crash, SVB’s customers were not as lucky,” she wrote Tuesday, arguing execs need to pay for “facilitating a near-economic disaster.”
