BREAKING: After @JoeBiden has long bailed out the bank, Federal Reserve releases damning report on Silicon Valley Bank collapse, blaming its own supervision and regulation for failing to address risks that led to the largest bank failure since the 2008 crisis. Vice Chair for Supervision, Michael S. Barr, calls for urgent action to address weaknesses in regulation and supervision, stating that "regulatory standards for SVB were too low" and "contagion from the firm's failure posed systemic consequences not contemplated." Controversy erupts as questions arise about the Fed's ability to effectively oversee the financial industry. #SVB #FederalReserve #BankCollapse