Sen. Marco Rubio (R-Fla.) has called on the Department of the Treasury to prioritize U.S. national security in response to the recent closures of Silicon Valley Bank (SVB) and Signature Bank.
In a letter to Treasury Secretary Janet Yellen (pdf), Rubio emphasized the need to prioritize the country’s geo-economic competition with China in its response.
Rubio urged the department to ensure that foreign adversarial regimes, as well as companies subject to their jurisdiction, are unable to exploit the moment for their own material benefit.
“As the Federal Deposit Insurance Corporation (FDIC) continues to work to effect an auction of SVB, I request that Treasury ensure that none of its assets end up in the hands of hostile, foreign adversaries,” he wrote….