Sen. Kennedy slams former Silicon Valley Bank CEO: ‘You made a really stupid bet that went bad’

During a Senate Banking, Housing, and Urban Affairs Committee hearing on Tuesday, Senator John Kennedy (R-LA) lambasted former Silicon Valley Bank CEO Gregory W. Becker for his role in the financial institution’s collapse. “This was bone deep, down-to-the-marrow stupid…and unless you were living on the International Space Station, you could see that interest rates were rising and you weren't hedged,” said Sen. Kennedy.