Republican: Blaming Bank Failures on Deregulation is "Hackish"

A Republican lawmaker was very offended that anyone might suggest that bank are failing because of deregulation. Ana Kasparian and Cenk Uygur discuss on The Young Turks. Watch TYT LIVE on weekdays 6-8 pm ET. http://youtube.com/theyoungturks/live

Read more HERE: https://www.levernews.com/republican-tells-lobbyists-its-hackish-to-blame-bank-failures-on-deregulation/

"The Republican lawmaker overseeing the House investigation into the ongoing banking crisis told an influential bank lobbying group last week that it was "hackish" to blame deregulation for recent bank failures — including the collapse of an institution that’s been his top individual source of campaign cash.

Rep. Patrick McHenry (R-N.C.), who has received $275,000 in donations since 2013 from executives at Signature Bank, will lead the House Financial Services Committee’s first hearing on Wednesday looking into the sudden failures of Signature Bank and Silicon Valley Bank (SVB) earlier this month.

One key factor in Signature Bank’s collapse was its decision to aggressively pursue cryptocurrency companies’ deposits before the crypto market imploded. McHenry, who benefited last election cycle from nearly $170,000 in spending by a pro-crypto super PAC, has been an avid supporter of the industry, which is built around digital money or assets.

***

The largest online progressive news show in the world. Hosted by Cenk Uygur and Ana Kasparian. LIVE weekdays 6-8 pm ET.

Help support our mission and get perks. Membership protects TYT's independence from corporate ownership and allows us to provide free live shows that speak truth to power for people around the world. See Perks: ▶ https://www.youtube.com/TheYoungTurks/join


SUBSCRIBE on YOUTUBE: ☞ http://www.youtube.com/subscription_center?add_user=theyoungturks
FACEBOOK: ☞ http://www.facebook.com/TheYoungTurks
TWITTER: ☞ http://www.twitter.com/TheYoungTurks
INSTAGRAM: ☞ http://www.instagram.com/TheYoungTurks
TWITCH: ☞ http://www.twitch.com/tyt

???? Merch: http://shoptyt.com

❤ Donate: http://www.tyt.com/go

???? Website: https://www.tyt.com

????App: http://www.tyt.com/app

???? Newsletters: https://www.tyt.com/newsletters/


If you want to watch more videos from TYT, consider subscribing to other channels in our network:

The Watchlist https://www.youtube.com/watchlisttyt

Indisputable with Dr. Rashad Richey https://www.youtube.com/indisputabletyt

Unbossed with Nina Turner https://www.youtube.com/unbossedtyt

The Damage Report ▶ https://www.youtube.com/thedamagereport

TYT Sports ▶ https://www.youtube.com/tytsports

The Conversation ▶ https://www.youtube.com/tytconversation

Rebel HQ ▶ https://www.youtube.com/rebelhq

TYT Investigates ▶ https://www.youtube.com/channel/UCwNJt9PYyN1uyw2XhNIQMMA


#TYT #TheYoungTurks #BreakingNews

230330__TA04Hackish