Hochul talks with Democrats and Republicans about bank failures
On March 13 Gov. Kathy Hochul juggled two storms, with several feet of snow headed to New York, and a banking crisis potentially spreading from coast to coast. California Silicon Valley Bank and New York’s Signature Bank both failed last week, and Gov. Kathy Hochul met with Democrats and Republicans March 13 in an attempt to steady investor nerves. Hochul, a Democrat, said, "Our view was to make sure that the entire banking community here in New York was stable, that we can project calm, that this is a time when we could manage a certain narrow situation and to make sure that that did not get any worse and that was what our objectives were." Republican Marc Molinaro, who represents the 19th Congressional District said, "Last night I received a bipartisan, bicameral briefing from federal regulators, and this morning, joined a call with Governor Kathy Hochul and the New York Congressional Delegation to discuss the collapse of Silicon Valley Bank and Signature Bank. My main focus is ensuring the issues facing these banks do not spread to Main Street."