Banking Regulations Under Scrutiny: Senators and House Republicans Speak Out.

Senator John Kennedy, R-La., criticized Silicon Valley Bank (SVB) and federal regulators for the need for a federal bailout of SVB. Kennedy said SVB could have avoided the crisis if it had hedged the risk of owning securities sensitive to interest rates. He also criticized federal regulators for not preventing the crisis and the Federal Deposit Insurance Corp. for not finding a buyer for the bank. Kennedy insisted that the Biden administration bailed out SVB, even though the administration has noted that the money being used to pay back depositors was money collected by bank fees.