BY Jack Davis, The Western JournalMarch 13, 2023
1 year ago
 | March 13, 2023
1 year ago

Democratic Senator Floats Social Media Censorship as Third Bank Collapses, Lawmaker Says

As quivers of fear streak across America in the aftermath of bank collapses, a Republican congressman said that at least one Democrat believes censorship should be one part of the policy response.

“Just got off of a zoom meeting with Fed, Treasury, FDIC, House, and Senate. A Democrat Senator essentially asked whether there was a program in place to censor information on social media that could lead to a run on the banks,” Republican Rep. Thomas Massie of Kentucky posted on Twitter.

Massie later noted that the response was “we will get back to you on that,” without identifying who said it.

Just got off of a zoom meeting with Fed, Treasury, FDIC, House, and Senate.

A Democrat Senator essentially asked whether there was a program in place to censor information on social media that could lead to a run on the banks.

— Thomas Massie (@RepThomasMassie) March 13, 2023

On Friday, Silicon Valley Bank collapsed, two days after Silvergate -- a major lender for the cryptocurrency sector -- announced it was going to voluntarily liquidate and cease operations, according to CNBC.

On Sunday, Signature Bank was closed in what was the third-largest failure in American banking history. Silicon Valley Bank was the second-largest collapse.

The Federal Deposit Insurance Corporation took over Signature, which had $110.36 billion in assets and $88.59 billion in deposits as of December 2022, the New York State Department of Financial Services said, according to Reuters, which noted Signature also had strong ties to the cryptocurrency sector.

Massie and others debated any effort to stifle social media from discussing the banking sector's issues.

Stocks plunged Monday with the extent of the ripples from the closures uncertain.

"When a step (is taken) this big, this quickly, your first thought is crisis averted. But your second thought is, how big was that crisis, how big were the risks that this step had to be taken?" said Rick Meckler, a partner at Cherry Lane Investment, according to Reuters.

Reuters noted that as of mid-morning Monday, First Republic Bank’s share price dropped  65.1 percent; Western Alliance Bancorp dropped 75.9 percent; PacWest Bancorp dropped 41 percent; and Charles Schwab dropped 19 percent, with trading halted frequently due to volatility.

This article appeared originally on The Western Journal.

Written by: Jack Davis, The Western Journal



Everyone Except Melania Wishes Trump Happy Birthday

According to a Daily Beast report, numerous public figures expressed their well-wishes for former President Donald Trump on his 78th birthday, while Melania Trump remained…
9 hours ago
 • By Staff Writers

Bill Maher Clashes With Charlamagne Tha God Over Racial Commentary

During a recent episode of "Real Time with Bill Maher," host Bill Maher and radio personality Charlamagne Tha God engaged in a fiery debate about…
9 hours ago
 • By Staff Writers

Man Admits to Killing Girl and Abduction, Requests Death Penalty

A Louisiana man, David Callihan, has admitted to abducting two children and killing one of them in a possible human trafficking case.  Callihan, 36, confessed…
9 hours ago
 • By Robert Cunningham

Murphy: SCOTUS Increasingly Political And Corrupt According To Senator

During a televised interview on CNN's "State of the Union," U.S. Senator Chris Murphy strongly criticized the U.S. Supreme Court, highlighting what he perceives as…
10 hours ago
 • By Staff Writers

CNN Sets Stage For First Presidential Debate Featuring Biden And Trump, RFK Jr. May Join

According to Fox News, CNN has established the guidelines for an upcoming debate in Atlanta on June 27. The event will feature President Joe Biden…
13 hours ago
 • By Staff Writers


We publish the objective news, period. If you want the facts, then sign up below and join our movement for objective news:



    Get news from American Digest in your inbox.

      By submitting this form, you are consenting to receive marketing emails from: American Digest, 3000 S. Hulen Street, Ste 124 #1064, Fort Worth, TX, 76109, US, You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact.
      Christian News Alerts is a conservative Christian publication. Share our articles to help spread the word.