Democrat Senator John Fetterman (PA) on Tuesday participated in the Senate Banking Committee hearing examining the failures of Silicon Valley Bank and Signature Bank.
And it was a total disaster.
Silicon Valley Bank collapsed in March after depositors withdrew billions of dollars from the lending institution.
According to SVB’s balance sheet, the lender had more than 70% of its deposits in mortgage backed securities that were yielding approximately 1.25%.
There was a run on the bank after depositors realized they could put their money in zero risk bonds yielding 5-6% after the Federal Reserve raised rates 450 basis points in 2022.
Signature Bank collapsed after the fallout from SVB.
Brain damaged Fetterman participated in the hearing on the banking crisis.
Fetterman has significant brain damage after having a massive stroke last May.
He was also hospitalized for 3 months for severe depression.
He’s the perfect Democrat.
Gregory Becker, former CEO of Silicon Valley Bank; Scott Shay, former Chairman and co-founder, Signature Bank; and Eric Howell, former President, Signature Bank were all present during Tuesday’s hearing.
The look on their faces as Fetterman mumbled through his remarks said it all.
Out of nowhere Fetterman began talking about the federal government’s SNAP program.
This video clip of Fetterman is shocking.
WATCH:
John Fetterman participates in a Senate Banking Committee hearing with the former CEO of Silicon Valley Bank. pic.twitter.com/uKILMfuilN
— Greg Price (@greg_price11) May 16, 2023
This story originally appeared on TheGateWayPundit
