Arizona Senator Mark Kelly calls for censorship of social media companies to prevent bank runs: report

Sen. Mark Kelly, D-Arizona, asked during a Silicon Valley Bank bailout meeting whether social media could be censored to prevent the spread of misinformation that could lead to a bank run, according to reports. .

Michael Shellenberger, a freelance journalist who reports on Twitter Files and contributed to Fox News, reported that Kelly asked the Federal Reserve, the Treasury Department and the Federal Deposit and Insurance Corp (FDIC) about censorship measures during Sunday’s meeting.

Arizona Democratic Senator Mark Kelly (AP Photo/Ross D. Franklin)

Republican House members on the call confirmed with Shellenberger’s publication, Public on Substack, that a Democratic senator asked about censorship of social media companies, including Rep. Thomas Massie, R- KY, although Kelly’s name was not specifically noted.

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“I just came out of a Zoom meeting with the Fed, Treasury, FDIC, House and Senate,” Massie tweeted on Sunday. “A Democratic senator basically asked if there was a program in place to censor information on social media that could lead to a run on the banks.”

After Shellenberger’s article came out on Monday, Massie retweeted the story, saying, “His name.”

A customer stands outside the closed headquarters of Silicon Valley Bank (SVB) on March 10, 2023 in Santa Clara, California. Silicon Valley Bank was shut down Friday morning by California regulators and placed under the supervision of the US Federal Deposit Insurance Corporation. (Justin Sullivan/Getty Images)

Rep. Dan Bishop, RN.C., confirmed to the public that it was Kelly who asked about the censorship.

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Like Massie, Bishop retweeted Shellenberger’s post calling out Kelly.

Kelly and his camp did not immediately respond to questions about the desire to prevent social media companies from posting false information that could cause bank depositors to withdraw their money all at once.

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Sunday’s call was about the collapse of Silicon Valley Bank and the sudden need for a plan to deal with the fallout.

Biden officials have insisted they do not plan to bail out SVB investors and that taxpayers will not pay to reimburse bank customers.

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The bank was shut down by regulators following a rush of investors withdrawing funds, leading to the biggest US bank failure since the 2008 financial crisis.