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The 11th Hour with Stephanie Ruhle

DOJ, SEC investigate Silicon Valley Bank meltdown

The 11th Hour with Stephanie Ruhle

MS NOW, Stephanie Ruhle

Politics, Washington, Congress, News, Ms Now, President, Versant Media, Policy, Msnbc, Versant, Government, Senate

4.43.6K Ratings

🗓️ 15 March 2023

⏱️ 44 minutes

🧾️ Download transcript

Summary

The Justice Department and the Securities and Exchange Commission have both opened investigations into the collapse of Silicon Valley Bank. Meantime, ex-Trump lawyer Michael Cohen will be back in front of a Manhattan grand jury to continue testimony in the hush money case. Peter Baker, David Enrich, Renato Mariotti, Michael McFaul, Michael Steele, Amy McGrath, and Dr. Frank Franklin join.

Transcript

Click on a timestamp to play from that location

0:00.0

Tonight investigating Silicon Valley Banks meltdown, the DOJ putting a magnifying glass to

0:07.3

the bank's leadership has Democrats tried to take steps to prevent it from happening

0:11.5

again.

0:12.5

Then, a Russian fighter jet harasses and collides with the U.S. drone as we get new reporting

0:17.9

about planned war crimes cases and a dangerous new drug ravaging American streets.

0:24.2

What you need to know from a doctor on the front lines, as the 11th hour gets underway

0:28.5

on this Tuesday night.

0:30.3

Good evening, once again, I'm Stephanie Rul.

0:37.9

The feds are now scrutinizing the nation's second biggest bank failure.

0:42.1

NBC News has confirmed the Justice Department and the Securities and Exchange Commission

0:46.2

are investigating the meltdown at Silicon Valley Bank.

0:49.5

Two sources tell NBC the DOJ's inquiry is in its early stages and part of it will focus

0:55.4

on whether bank executives sold any stock prior to the collapse.

0:59.8

So far, SVB is not commenting.

1:02.4

As for Klawbacks, a senior administration official says the FDIC has legal grounds to act

1:07.9

in certain cases that some officials also say to stay tuned on that matter.

1:13.9

And adds that we could see the administration act to tighten banking regulations.

1:18.1

While on Capitol Hill, Democratic Senator Elizabeth Warren and Congressman Katie Porter,

1:22.5

Joe Surprise are working on legislation to repeal a bipartisan Trump era law that rolled

1:28.9

back some banking rules.

1:31.0

Meanwhile, we're also following the former president's escalating legal troubles, including

1:35.6

the latest on the Hush Money case.

...

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