Part 3/9:
The conversation inevitably steered toward the recent failures in the banking sector, notably the collapse of Silicon Valley Bank in March 2023. Scott pointed out a troubling trend: a lack of accountability within the regulatory framework of the Fed. No federal regulator has faced consequences for mismanagement, prompting questions about the institution's function and purpose. This silence in the face of adversity positions the Fed as an establishment increasingly shrouded in secrecy and lack of accountability.