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  • Rep. Thomas Massie (R-KY) Explains How the Federal Reserve Enabled Silicon Valley Bank's Failure

    03/13/2023 10:45:51 AM PDT · by SeekAndFind · 17 replies
    Townhall ^ | 03/13/2023 | Spencer Brown
    As America's economic turmoil continues to spread fear among consumers and depositors, U.S. Rep. Thomas Massie (R-KY) took to Twitter to explain how the clumsy hand of government — specifically the Federal Reserve — enabled both the "malfeasance" and "failure" of Silicon Valley Bank. First, Massie explained the Fed's role as "Santa Claus" by setting and keeping interest rates "artificially low" for years. That spurred economic growth and "nudged" those with cash to spend into venture capital which in turn necessitated an institution like Silicon Valley Bank. Let’s review the Federal Reserve Bank’s many roles, & how each of them...