Blame Game! KPMG Gave Collapsed U.S. Banks Clean Bill Of Health Weeks Before Their Sudden Death!
Last Friday, Silicon Valley Bank (SVB) was closed by California regulator DFPI due to a bank run and placed under FDIC control. The DFPI stated that SVB had been financially sound until a few days before. The WJS reports that KPMG issued a clean bill of health to SVB just 14 days before. The New York-based Signature Bank went down 11 days after KPMG signed off on its audit. This raises the question of whether KPMG has overlooked something.