MARIA: WELCOME BACK.
HOUSE OVERSIGHT COMMITTEE
CHAIRMAN JAMES COMER REVEALING
NEW EVIDENCE SHOWING PRESIDENT
BIDEN’S DAUGHTER IN LAW HAILEY
RECEIVED CHINESE PAYMENTS FROM
BUSINESS ASSOCIATE ROB WALKER.
BANK RECORDS SHOW THAT HAILEY
BIDEN GOT $35,000 IN 2017 FOR
WALKER’S STATE ENERGY HP
LIMITED, A FIRM AFFILIATED WITH
CEFC CHINA ENERGY.
THE WHITE HOUSE IS DISMISSING
THE FINDINGS TELLING FOX NEWS,
QUOTE, AFTER A DISGUSTING
ATTACK, LAMENTING THAT THE
PRESIDENT’S DECEASED SON WAS
NEVER PROSECUTED WHILE ALIVE,
CONGRESSMAN COMER HAS DECIDED TO
GO AFTER HIS WIDOW.
JOINING ME NOW, WARREN DAVIDSON.
THANK YOU FOR BEING HERE THIS
MORNING.
YOUR REACTION?
>> GOOD MORNING, MARIA.
YOU KNOW, NOT REALLY SURPRISED
FRANKLY.
THE BIDEN FAMILY IS REALLY
CONTINUING THE LEGACY THE
CLINTON FAMILY NEVER GOT THE
KIND OF SCRUTINY THEY’RE GETTING
AND FRANKLY I’M GLAD THAT
CHAIRMAN COMER IS PROVIDING THIS
VISIBILITY TO THE AMERICAN
PUBLIC.
THE FRUSTRATION IS, YOU KNOW,
PEOPLE HAVE ASKED FOR YEARS
SINCE I GOT ELECTED, WHEN IS
SOMEBODY GOING TO JAIL.
WE KEEP OUTING THINGS THAT
NORMAL PEOPLE WOULD BE NOT JUST
INVESTIGATED FOR, THAT A TRIAL
WOULD ALREADY BE UNDERWAY.
AND THEY DON’T SEE THE
DEPARTMENT OFDEPARTMENT OF JUSTI
AFTER THE PROTECTED PEOPLE LIKE
THE CLINTONS AND BIDENS.
MARIA: COMER HAS UNCOVERED A
LOT EVEN THOUGH HE’S GETTING
STONEWALLED BY THIS WHITE HOUSE
AND THESE 150 SUSPICIOUS
ACTIVITY REPORTS.
WHAT WE KNOW SO FAR, THERE ARE
TENS OF MILLIONS OF DOLLARS THEY
THAT BIDEN FAMILY MEMBERS HAVE
ACCEPTED BUT WHAT WERE THEY
GETTING PAID FOR?
WHAT WAS THIS MONEY COME COMING
CHINESE COMPANIES TO THE BIDEN
FAMILY ACTUALLY PAYING FOR?
>> YEAH.
I MEAN, THE OTHER THING IT’S NOT
LIKE THEY HAD A GOOD OR A
SERVICE, RIGHT?
SO THEY’RE PAID FOR EXPERTISE
THAT THEY DON’T HAVE.
YOU LOOK AT HUNTER.
HE WAS ON BURISMA’S BOARD FOR
UKRAINE.
WHAT EXACTLY WAS HE DOING FOR
CHINA THAT THEY COULDN’T HAVE
POSSIBLY FOUND OTHER PLACES IN
THE COMMERCIAL MARKETPLACE AND
SO THERE’S A STRONG SUSPICION,
THERE’S 10% FOR THE BIG GUY HE
FLOWING EVERYWHERE WITH THE
BIDENS AND A LOT OF FRUSTRATION
BECAUSE IT DOESN’T SEEM THAT THE
DEPARTMENT OF JUSTICE IS
INTERESTED IN THE CASE.
MEANWHILE, THEY’RE INTERESTED IN
ALL KINDS OF OTHER THINGS.
THEY PAID MORE ATTENTION TO
PARENTS IN HOW LOUDEN COUNTY,
VIRGINIA, THAN THEY PAID TO THE
SITUATION WITH THE BIDEN FAMILY.
MARIA: LET ME SWITCH GEARS, ASK
ABOUT THE ISSUES WITH WALL
STREET AND MARKETS RIGHT NOW,
TREASURY SECRETARY JANET YELLEN
CLAIMS THE BANKING SYSTEM IS
SAFE THE JOURNAL IS CALLING OUT
THE DOWN PLAYING OF THE CRISIS,
WRITING IF FIRST REPUBLIC RES
PROBLEMS GO DEEPER THAN
LIQUIDITY, THE RISKS COULD COULD
BE GREATER THAN REGULATORS
RECOGNIZE AND COULD GROW IF THE
ECONOMY SLOWS.
SHE WAS CALLED OUT YESTERDAY.
>> WHY DOESN’T THE PRESIDENT
CARE.
>> HE CARES VERY DEEPLY.
>> THEN WHERE IS HIS PLAN?
>> HE STANDS READY TO WORK WITH
CONGRESS.
>> THAT’S A LIE.
ON A BIPARTISAN GROUP OF
SENATORS HAS REPEATEDLY
REQUESTED TO MEET WITH HIM ABOUT
SOCIAL, WE HAVE NOT HEARD
ANYTHING ON OUR REQUEST.
AND WE MADE MULTIPLE REQUESTS TO
MEET WITH THE PRESIDENT.
THAT IS A FACT AND IF YOU’VE
BEEN TOLD TO SAY HE STANDS READY
TO MEET, I WILL TELL YOU THERE
IS ABSOLUTELY NO EVIDENCE
BECAUSE WE HAVE NOT GOTTEN OUR
MEETING.
MARIA: SO CONGRESSMAN, WHERE IS
THIS GOING?
YOUR REACTION TO SENATOR CASSIDY
THERE AND THE FACT THAT YOU
HAVEN’T HAD ANY COMMITMENT FROM
THE BIDEN ADMINISTRATION IN
TERMS OF CUTTING BACK SPENDING
AND YOU’RE FACING A DEBT
CEILING ISSUE IN THE COMING
MONTHS.
>> YEAH, GREAT WAY TO HIGHLIGHT
THE MACROECONOMIC CONDITIONS,
MARIA.
AND SENATOR CASSIDY’S
QUESTIONING WITH SECRETARY
YELLEN, I THINK SECRETARY YELLEN
SAYING JOE BIDEN WOULD ACCEPT
THE PRAISE AND SURRENDER YOU
WANT TO GIVE HIM BUT HE DOESN’T
WANT TO HAVE DIALOGUE ABOUT THE
PROBLEMS CONFRONTING THE
COUNTRY.
I THOUGHT DIALOGUE BETWEEN
SECRETARY YELLEN AND SENATOR
LANGFORD WAS VERY INFORMATIVE AS
WELL WHEREAS CERTAIN PEOPLE ARE
VERY PROTECTED AND OTHERS LIKE
COMMUNITY BANKS IN OKAY HOE M MA
PRESUMABLY OHIO THAT’S NOT AS
PIG OF A DEAL.
I THINK THE WALL STREET JOURNAL
OP-ED DID A GOOD JOB
HIGHLIGHTING THIS THIS MORNING.
THE REAL ISSUE AT SILICON VALLEY
BANK WAS THE MANAGEMENT TEAM.
IT WAS THE MANAGEMENT TEAM’S JOB
TO MANAGE INTEREST RATE RISK,
LOTS OF BANKS ARE CONFRONTING
IT.
THAT IS THE MACROECONOMIC
ENVIRONMENT DRIVEN BY POOR
MANAGEMENT FROM THE FEDERAL
RESERVE.
I MEAN, THEY WERE TOO LATE TO
RAISE INTEREST RATES N KEPT.
THEY KEPT THEM ARTIFICIALLY LOW
AND THEY’RE LIKE OH, MY GOSH
INFLATION IS REAL AND IT’S NOT
GOING TO BE TRANSITORY.
THEY STOMPED ON THE GAS.
NOW YOU THEY’VE GOT CHAOS.
SOME HAVE REACTED PRETTY WELL
AND MANAGED INTEREST RATE RISK.
SOME HAVE NOT.
SILICON VALLEY BANK, THE RIGHT
PEOPLE WERE HELD ACCOUNTABLE,
THE SHAREHOLDERS, AND NOW THE
MANAGEMENT TEAM FACES SCRUTINY.
THE REGULATORS WERE ABOUT AS
USELESS AT THE EVALDI COPS AT
THE SCHOOL SHOOTING.
IT WAS THE SHOOTER THAT DID THE
BAD THING AND MANAGERS FAILED TO
MANAGE THE RISK.
>> I WAS WONDERING WHAT THE
EXPECTATIONS ARE FOR THE
REGULATORS.
I MEAN, THE PRESIDENT OF SILICON
VALLEY BANK SAT ON THE FEDERAL
RESERVE BOARD IN SAN FRANCISCO
AND THEY KNEW FOR A LONG TIME
THAT DEPOSITS WERE LEAVING AND
SO I JUST WONDER WHAT IF
ANYTHING CONGRESS IS ATTEMPTING
TO DO BECAUSE I DON’T THINK
GETTING MORE REGULATIONS IS
GOING TO SOLVE THE PROBLEM IF
THE SUPERVISOR IS ASLEEP AT THE
WHEEL.
>> THIS WASN’T A FAILURE OF LAW
OR REGULATION.
IT WAS A FAILURE BY THE
MANAGEMENT TEAM AND THE
REGULATORS, HOW DID THEY NOT DO
THE RIGHT THING HERE AND GIVEN
THE TIGHT RELATIONSHIP IT SEEMS
IMPOSSIBLE THAT THE PRESIDENT IS
SHORTING OR SELLING SHARES RIGHT
BEFORE EVERYTHING FAILS AND I
THINK DOJ RIGHTLY LAUNCHED A
CRIMINAL INVESTIGATION THAT’S
NOT DISCLOSING MATERIAL
INFORMATION TO SHAREHOLDERS AND
ACTING ON IT HIMSELF, CERTAINLY
GIVES THE APPEARANCE THAT THAT’S
WHAT HAPPENED AND CONGRESS IS
ASKING ALL THOSE QUESTIONS.
WE’RE REQUESTING ALL THE
DOCUMENTS.
AND WE’RE FIGHTING TO GET THE
RIGHT WITNESSES.
WE HAVE HEARINGS COMING UP ON
THE 23rd, 28th AND 29th
AND THE STRUGGLE IS IN THE MIDST
OF THESE INVESTIGATIONSES BEING
LAUNCHED BY THE DOJ, FOR
EXAMPLE, NO ONE WANTS TO COME
WITHOUT A SUBPOENA BUT AT LEAST
WE’RE GOING TO HAVE THE FDIC
THERE. MARIA: YEAH.
MARIA: YEAH.
AND KIM STRASSEL WRITES DID ESG
HELP SINK P SVB, FOCUSED ON WHAT
THEY HAD WERE FOCUSED ON AT THE