Stop rewarding bank failure: Sign the petition to hold executives accountable
Imagine this: you work diligently, managing your finances responsibly. Meanwhile, bank executives are taking high-risk gambles with your hard-earned money. When these bets go awry, these same executives parachute out with golden exits, leaving the wreckage behind.
Unbelievable, right? But this is exactly what's happening, as seen with the recent collapse of Silicon Valley Bank.
Just before federal regulators took over Silicon Valley Bank on March 10, its executives helped themselves to massive bonuses. They did this knowing full well they could escape with it due to our currently lenient financial regulatory environment. This scandal has followed the narrative of three of the four largest bank failures in U.S. history that have all occurred this year, with each of their CEOs walking away with staggering profits.