The White House is exploring additional ways to ensure accountability for those who were responsible for the collapse of Silicon Valley Bank, administration officials said Tuesday.
Pointing to the bonuses some bank employees got last week and stock sales made by senior executives in recent years, a White House official said, “All of those are worthy of a deeper look.”
“Stay tuned on that front,” the official said, speaking on condition of anonymity to discuss the Biden administration’s thinking. “In the very near term, we’re going to have more to say about the accountability aspects of this.”
In his brief address Monday announcing the government’s plan to protect depositors, President Joe Biden made it clear that he didn’t want those who caused the bank’s failure to profit. That was one reason the 2008 bailout was so unpopular.