Bloomberg Tax
March 17, 2023, 10:11 AM

FINANCE BRIEFING: House Finance Chair Says Bank Blame Can Wait

Giuseppe Macri
Zach C. Cohen
Zach C. Cohen

A top House Republican wants Congress to lower the political temperature in Washington by cooperating on investigating the collapse of Silicon Valley Bank and avoiding “drama” on increasing the debt ceiling.

People should hold off on assigning blame while Congress and watchdogs investigate the cause of the bank’s failure, House Financial Services Chairman Patrick McHenry (R-N.C.) said Thursday.

It’s “natural” to first look at the bank’s management and the bank regulators, but the “full set of facts” is not yet known, McHenry said on Bloomberg Television’s “Balance of Power.”

The tension sets up the potential for an even more explosive ...