Republican Rep. Thomas Massie of Kentucky said Monday that Democratic Sen. Mark Kelly of Arizona asked about censorship tools that could be used to prevent bank runs following the collapse of Silicon Valley Bank.
Kelly reportedly made the request to representatives of the Treasury Department, Federal Deposit Insurance Corporation (FDIC) and Federal Reserve during a Sunday conference call discussing the Friday collapse of Silicon Valley Bank, according to Public, an outlet founded by journalists Michael Shellenberger and Leighton Woodhouse, who cited multiple Republican representatives, including Lauren Boebert of Colorado, Dan Bishop of North Carolina and Massie.
“There was a senator, I believe it was Mark Kelly, who asked if we had a good program to censor this stuff at social media, to censor information so there wouldn’t be a run on the banks,” Massie told Fox News host Jesse Watters. “The problem is he didn’t say he wanted to censor false information or foreign information, he kind of left it open-ended. And I mean, that’s chilling to me.”
Federal regulators shut down Silicon Valley Bank Friday after its stock price collapsed and customers began a bank run following the financial institution’s disclosure of a $1.8 billion loss on asset sales due to high interest rates, CNBC reported.
Depositors who had accounts at Silicon Valley Bank and Signature Bank, which was shut down by regulators Sunday, will be able to fully recover their funds, the FDIC announced in conjunction with the Treasury Department and the Federal Reserve Sunday.
“That’s their go-to now for the Democrats,” Massie said. “Let’s censor our way to the solution.”
Kelly did not immediately respond to a request for comment from the Daily Caller News Foundation.
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Republished with permission from Daily Caller News Foundation