Signature
Bank Like SVB Failed Amid Crypto
Probe while NY Regulator in
Denial, Slow FOIL
by
Matthew Russell Lee, Patreon Book
Substack
SDNY COURTHOUSE,
March 15 – Alongside
the larger
flame-out of
Silicon Valley
Bank, over the
weekend
Signature Bank
too failed. On
Signature
Bank's board
of directors
is not only
Barney Frank
(who after
leaving
Congress
undermine his
own Dodd Frank
Act) but also
former New
York State
Superintendent
of Banks
Derrick D.
Cephas. The
Administration
is saying that
people will be
held
accountable.
But who can get
their stories
straight?
Signature's
crypto
business had drawn a
money
laundering
probe
including by
SDNY - but the
New York
regulator,
countering
Barney Frank's
self-serving
bluster about
an
"anti-crypto
message," said
the closure "was
based on the
current status
of the bank
and its
ability to do
business in a
safe and sound
manner on
Monday."
Meanwhile,
the NYSDFS has
been taking
months -
in some
cases years -
to provide
documents responsive
to Inner City
Press' FOIL
requests.
Also in
view: Comerica
(with long
time Federal
Reserve
official
Michael E.
Collins on its
board), PacWest and
First Republic,
Western
Alliance and
Zions. Watch
this site.
***
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