(RNS) — Libertarian capitalists are hypocrites. They hate government regulations, but when they are in trouble, they expect the government to bail them out.
Days after U.S. Sen. Elizabeth Warren expressed outrage over the bonuses that Silicon Valley Bank executives were handing out hours before the bank failed, President Joe Biden on Friday called on Congress to strengthen regulatory powers to hold officials at failed banks accountable.
The new CEO of failed Silicon Valley Bank is a familiar name to many in Charlotte’s banking community — Tim Mayopoulos was fired as general counsel of Bank of America in 2008 in the midst of the financial crisis and escorted out of the office by an HR representative.
The world's 60 biggest banks have provided $3.8 trillion to fossil fuel companies since the Paris climate agreement in 2016, according to a new report.
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