{"id":26608,"date":"2023-05-20T11:39:00","date_gmt":"2023-05-20T18:39:00","guid":{"rendered":"https:\/\/occupysf.net\/?p=26608"},"modified":"2023-05-20T11:39:01","modified_gmt":"2023-05-20T18:39:01","slug":"fetterman-floats-work-requirements-for-bailed-out-bank-executives","status":"publish","type":"post","link":"https:\/\/occupysf.net\/index.php\/2023\/05\/20\/fetterman-floats-work-requirements-for-bailed-out-bank-executives\/","title":{"rendered":"Fetterman floats work requirements for bailed-out bank executives"},"content":{"rendered":"\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-4-3 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Sen. John Fetterman schools bank executives: why no &quot;work requirements&quot; for bailouts?\" width=\"800\" height=\"600\" src=\"https:\/\/www.youtube.com\/embed\/xj5mVlJjcPo?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe>\n<\/div><figcaption class=\"wp-element-caption\"><a href=\"https:\/\/www.youtube.com\/@DailyKos\"><br>Daily Kos<\/a> Sen. John Fetterman schools bank executives: why no &#8220;work requirements&#8221; for bailouts?<\/figcaption><\/figure>\n\n\n\n<p>BY\u00a0<a href=\"https:\/\/thehill.com\/author\/stephen-neukam\/\">STEPHEN NEUKAM<\/a>\u00a0&#8211; 05\/16\/23 3:28 PM ET (thehill.com)<\/p>\n\n\n\n<p>Sen.&nbsp;<a href=\"https:\/\/thehill.com\/people\/john-fetterman\/\">John Fetterman&nbsp;<\/a>(D-Pa.) grilled former executives from recently failed banks Tuesday on whether there should be work requirements for banking officials whose firms are \u201cbailed out\u201d by the federal government.<\/p>\n\n\n\n<p>Fetterman pointed out that Republicans want to increase work requirements for the Supplemental Nutrition Assistance Program (SNAP), which is used by millions of needy families for food access, a provision that was part of the debt ceiling bill the House GOP passed last month.<\/p>\n\n\n\n<p>Fetterman asked the former bank executives, who included former CEO of Silicon Valley Bank Gregory Becker as well as Scott Shay and Eric Howell, former chair and president of Signature Bank, respectively, whether the same type of work requirements should be in place for executives of banks that are given federal assistance as they collapse.<\/p>\n\n\n\n<p>\u201cA hungry family has to have these kinds of working requirements,\u201d Fetterman said during a Senate Banking Committee hearing Tuesday. \u201cShouldn\u2019t you have a working requirement, after we bail out your bank?\u201d<\/p>\n\n\n\n<p>The former bank executives did not answer Fetterman\u2019s question. Sen.&nbsp;<a href=\"https:\/\/thehill.com\/people\/sherrod-brown\/\">Sherrod Brown&nbsp;<\/a>(D-Ohio), the chairman of the committee, quipped to Fetterman that he \u201cdidn\u2019t see an eagerness on the panel to answer your questions.\u201d<a href=\"https:\/\/thehill.com\/homenews\/state-watch\/4013539-nc-governor-blasts-state-republicans-over-abortion-restrictions-theyve-ignored-the-will-of-the-people\/\" target=\"_blank\" rel=\"noreferrer noopener\">NC governor blasts state Republicans over abortion restrictions: \u2018They\u2019ve ignored the will of the people\u2019<\/a><a href=\"https:\/\/thehill.com\/homenews\/campaign\/4012686-desantis-stumbles-while-seeking-to-stick-trump-with-loser-label\/\" target=\"_blank\" rel=\"noreferrer noopener\">DeSantis stumbles while seeking to stick Trump with loser label<\/a><\/p>\n\n\n\n<p>The collapse of Silicon Valley Bank and Signature Bank earlier this year sent shockwaves through the banking system and the U.S. economy. The federal government moved to backstop all uninsured deposits at the firms, hoping to stave off a wider consumer reaction.&nbsp;<\/p>\n\n\n\n<p>Fetterman hit Republicans for being \u201cmore preoccupied\u201d with adding working requirements for SNAP recipients than \u201cprotecting the taxpayers\u201d who will bail a bank out.<\/p>\n\n\n\n<p>Following the collapse of the banks, federal lawmakers have been pointing to federal regulators and bank executives for missing warning signs, with many Democrats arguing there need to be tighter restrictions on the banking industry.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BY\u00a0STEPHEN NEUKAM\u00a0&#8211; 05\/16\/23 3:28 PM ET (thehill.com) Sen.&nbsp;John Fetterman&nbsp;(D-Pa.) grilled former executives from recently failed banks Tuesday on whether there should be work requirements for banking officials whose firms are \u201cbailed out\u201d by the federal government. Fetterman pointed out that Republicans want to increase work requirements for the Supplemental Nutrition&#8230; <a class=\"continue-reading-link\" href=\"https:\/\/occupysf.net\/index.php\/2023\/05\/20\/fetterman-floats-work-requirements-for-bailed-out-bank-executives\/\"> Continue reading <span class=\"meta-nav\">&rarr; <\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[599],"_links":{"self":[{"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts\/26608"}],"collection":[{"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/comments?post=26608"}],"version-history":[{"count":1,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts\/26608\/revisions"}],"predecessor-version":[{"id":26609,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts\/26608\/revisions\/26609"}],"wp:attachment":[{"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/media?parent=26608"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/categories?post=26608"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/tags?post=26608"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}