WASHINGTON D.C.- Rep. Mike Flood is at the center of the House of Representatives' response to the failure of the Silicon Valley Bank. He said that he is impressed by the immediate federal government reaction to the potential financial crisis and remains alert to protecting the security of Nebraska banks. "I saw the best of the federal government at work over the weekend," the 1st District Republican congressman said, "as it provided real-time oversight during a crisis" and kept members of the House Financial Services Committee informed.

Flood has now turned his focus to avoid a ripple effect across the nation that may leak all the way back to Nebraska. "Nebraska banks are very well-capitalized and regulated and very conservative in lending," the congressman said in a telephone interview. Swift federal action was designed to "make sure there wouldn't be a ripple effect" that took other banks down, he said.

Flood said without quick federal action, it was possible that there would be several other bank failures across the country. He is looking into the causes of the failure and wants an answer to the question, "What role did Twitter play in spreading information with lightning speed?" Flood assured that the best people are at the helm, and they will continue working hard over the coming weeks.

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