Bloomberg Markets “The Close”: Proposed Capital Rules

Regulators have been acting in an ad-hoc manner, albeit in good faith, for over six decades (including during the period when I was Chairman of the FDIC). This unending practice of bailouts of large banks and large depositors must end––now.

I urge Congress and the regulators to develop a plan to reform the deposit insurance system to end bailing out the largest depositors when banks fail.

Former FDIC Chair on First Republic Meltdown

I spoke with Annmarie Hordern and Joe Mathieu on Bloomberg’s “Balance of Power” about reports that the FDIC may place First Republic Bank under receivership, and talked about the report the Federal Reserve put out on the collapse of Silicon Valley Bank.