Just ten days before the bank's collapse, Rep. Patrick McHenry, chairman of the House Financial Services Committee, was there collecting fat checks from their executives. Pretty much a case study for everything that is wrong with congressional politics. McHenry is now in charge of finding out which of his buddies screwed up and caused the bank to fail. Here's a hint: all of them.
Source: Bloomberg
(Bloomberg) -- Ten days before Signature Bank collapsed, the House Republican overseeing an inquiry into the bank’s failure was inside its boardroom on New York’s Fifth Avenue.
Patrick McHenry was there to raise thousands of dollars from bank executives.
The mood inside the Signature boardroom at the March 2 fundraiser was calm, according to a person who was at the event and asked for anonymity to discuss the private affair. There was no overt anxiety or tension, the person said; instead there were questions about the debt ceiling.
McHenry’s campaign decided last week it won’t process any of the contributions from the event, according to a spokesperson.
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