Sen. Van Hollen: SVB executives’ stock sales should be ‘clawed back’ to ‘keep depositors whole’

Banking Committee member Senator Chris Van Hollen (D-MD) joins Andrea Mitchell to react to the Silicon Valley Bank collapse and what needs to be done to right the bank management’s wrongs. “Even if there was no insider trading here — trading on that inside information — I do think that certainly the profits from the sales by the owner should be clawed back because we're gonna have to be raising fees on banks, in order to pay for the uninsured depositors at this bank, and other banks — banks will be paying for that,” says Van Hollen. “But I also think it's only fair that, you know, those who profited, at least on the very day this was going under, or just weeks before that, should have to make a contribution to helping, helping keep depositors whole.”March 14, 2023