Economist and AEI senior fellow Dr. Paul Kupiec joins Rep. Crenshaw to explain the abrupt collapse of Silicon Valley Bank. They break down in layman’s terms what caused the collapse, the failures in regulatory and management oversight, how this will affect taxpayers, and options policymakers must weigh to reform and fortify our financial systems from systemic risk. *Editor’s note* Rep. Crenshaw and Dr. Kupiec skipped the standard intro and jumped right into the conversation. Please see below for Dr. Kupiec’s bio.

Paul Kupiec is a senior fellow at the American Enterprise Institute (AEI), where he studies systemic risk and the management and regulations of banks and financial markets. Before joining AEI, Kupiec was an associate director of the Division of Insurance and Research within the Center for Financial Research at the Federal Deposit Insurance Corporation (FDIC). Kupiec was also director of the Center for Financial Research at the FDIC and chairman of the Research Task Force of the Basel Committee on Banking Supervision. He has previously worked at the International Monetary Fund (IMF), Freddie Mac, J.P. Morgan, and for the Division of Research and Statistics at the Board of Governors of the Federal Reserve System. Kupiec has edited many professional journals, including the Journal of Financial Services Research, Journal of Risk, and Journal of Investment Management. He has a Bachelor of Science degree in economics from The George Washington University and a doctorate in economics — with a specialization in finance, theory, and econometrics — from the University of Pennsylvania.