By Pam Martens and Russ Martens: November 13, 2023 ~ Tomorrow, the Senate Banking Committee will hold a hearing to question federal banking regulators on what they are doing to restore public trust and financial stability to the U.S. banking system after the second, third and fourth largest bank failures in U.S. history occurred this Spring and caught regulators napping. One of the regulators scheduled to testify is Michael Hsu, the Acting Comptroller of the Office of the Comptroller of the Currency (OCC). Hsu undermined public trust in the U.S. banking system in May when he allowed JPMorgan Chase, the largest and riskiest bank in the United States, to become even larger and riskier through its purchase of the failed bank, First Republic Bank. At a July 12 Senate hearing, Senator Elizabeth Warren had this to say about Hsu’s conduct: “When First Republic Bank collapsed in April, the bank was ultimately … Continue reading Bank Regulator Who Approved the Riskiest U.S. Bank Getting Bigger in May, Wants to Do a Survey on Why Trust in U.S. Banks Is Tanking