#shorts On 3/16/2023, during a Senate Finance Committee hearing, Senator James Lankford (R-OK) questioned Treasury Secretary Janet Yellen about the Silicon Valley Bank and Signature Bank full bailout for billionaires, including the potential for bailing out foreign investors in China, and how Oklahoma’s community banks and taxpayers will be on the hook for a bank failure they had nothing to do with.

Yellen said, “… systemic risk and significant economic and financial consequences.

Sen. Lankford: Right. So what is your plan to keep large depositors from moving their funds out of community banks into the big banks? We have seen the mergers of banks over the past decade. I’m concerned you’re about to accelerate that by encouraging anyone who has a large deposit in a community bank to say, we’re not going to make you whole, but if you go to one of our preferred banks, we will make you whole at that point.

Janet Yellen: Look, I mean, that’s certainly not something that we’re encouraging…

other clips of this published longer video is here: https://youtu.be/rdq69sLyBhM
Lankford Spars with Yellen on Billionaire Bailout Paid for by Oklahoma Community Banks