Fetterman suggests job requirements for bailed out bank executives in choppy Senate hearing notes


May 17, 2023 | 1:36 a.m

Sen. John Fetterman floated the idea of ​​job requirements for bank executives receiving taxpayer bailouts in remarks during a Senate Banking Committee hearing on Tuesday that some conservative commentators called “painful” and incoherent.

Fetterman, who is still dealing with lingering auditory processing issues as a result of a stroke he suffered last year, was the latest senator to question executives from Silicon Valley and Signature Bank on Tuesday, at times appearing to struggle to get his point across.

“I heard — some of my colleagues actually heard — that they went to go to Hawaii after your bank collapsed, and I couldn’t believe it. I couldn’t believe it. So I went on the Internet and it was like it really happened. It really did. Fetterman said ( D-Pennsylvania) pulling a headline from The Post about SVB’s former CEO, Greg Baker, being furloughed following the bank’s collapse.

“And he’s in Fortune, the second-largest bank in US history collapsed, and he chose to go to Hawaii for it. Yeah, I’ve never been to Hawaii, and neither have my family. I guess I didn’t hit, excuse me, I broke a bank, you know” .

Later, the Pennsylvania Democrat seemed to marvel at how much power bank executives have over the state of the economy, and seemed to suggest curbing their behavior in a particularly choppy line of questioning to which the executives didn’t respond.

Is it an amazing response, a responsibility that the head of the bank could literally cause our economy to collapse? It’s amazing. It’s like, if you have, I mean, like, and they also realize that they now have a sure and sure way to be rescued, again, no matter how, you know, so it’s, you know, isn’t it appropriate that those types of Tighter controls to prevent this kind of thing from continuing, or should we just go ahead and start bailing and bailing out any bank regardless of their behaviour? Fetterman asked.

Sen. John Fetterman floated the idea of ​​job requirements for bank executives who receive taxpayer bailouts in remarks during a Senate Banking Committee hearing.
Michael Bruchstein/SOPA Pictures/Shutterstock

Then, the 53-year-old senator seemed to argue that if “Republicans want to give labor requirements to SNAP,” then bank bailouts should come with labor requirements, too.

At least two prominent Republicans appeared to support Fetterman’s idea.

“I have never agreed with Fetterman more,” Rep. Matt Gaetz (R-Fla.) he said in a tweetlinking to a clip of the senator’s comments.

Republican presidential candidate Vivek Ramaswamy has also said he supports the idea.

“Senator [Fetterman] He says if we append business requirements to luxury, then the executives of the bailed out banks should have business requirements too. an agreement. Let’s do. This time I really agree with him.” Ramaswamy wrote on Twitter.

Adam Gentelson, Fetterman’s chief of staff, said Tuesday he was shocked by the seemingly unwritten comment.

Fetterman was the latest senator to question executives from Silicon Valley Bank and Signature Bank on Tuesday, and at times he appeared to struggle to get his point across.
Michael Bruchstein/SOPA Pictures/Shutterstock

“John Fetterman just asked the CEO of Silicon Valley Bank if there should be job requirements for bank-breaking executives and dear reader, I almost fell off my seat,” Jentleson he said in a tweet.

“I was surprised because we were preparing for the session but that wasn’t part of it. He came up with it right away.”

Others were less impressed.

“John Fetterman is unable to speak or think coherently. Good job, Pennsylvania,” Outkick founder Clay Travis wrote on Twitter.

“These are the most painful 90 seconds you’ll watch all month,” Colin Roeg, co-owner of Trending Politics, says. he said in a tweet.

Former Silicon Valley Bank CEO Gregory Baker, former Signature Bank Chairman Scott Shay, and former Signature Bank President Eric Howell testify before the Senate Banking, Housing, and Urban Affairs Committee.

“An embarrassment to the country,” Brent Scheer, executive editor of The Washington Free Beacon, he said of Fetterman’s choppy speech.

Chad Brother, host of “The Chad Brother Show” on Blaze TV, Fetterman said “Can’t even complete a sentence” and “He should quit right away and take some time off to focus on his health.”

In response to the mockery of Fetterman’s speech, Joe Calvillo, the Senate communications director, told Fox News Digital, “We’ve been clear for months and months that John continues to have auditory processing issues due to the effects of a stroke.”

“If patients on the Internet want to keep mocking John for recovering from a health problem, that is between them and their conscience,” Calvillo said.

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