Democrats Desperately Rush To Try To Blame Trump For Silicon Valley Bank Collapse

[Marener]

I have to laugh at you and your dumbass economic claims.

You have demonstrated you don’t even know the difference between the deficit and the national debt, simp.

You clearly have no idea what you’re talking about. I think you are confusing federal deficits when I’m talking federal reserve policy.

Go back and play with your legos.

 

[struth]

Trump’s economy was never strong enough to raise interest rates above one percent. They tried and it nearly put them into recession.

Trump’s economy survived on free money.

interest rates rose under trump…he was able to get us out of obama’s era of free money…but those interest rates rose at a reasonable rate because trumps policies didn’t cause record inflation like xiden

 

[Clipper]

Is there anything they won't blame him for?

Next they'll be claiming he was the one who touched Ashley Biden in the shower.

No, that was Stormy.

 

[DBA]

Your predictions are especially worthless when they’re so heavily informed by your partisan politics rather than data.

You should tell that to ideological economists who knew good and well that it was not transitory. The data never suggested that.

 

[Marener]

You should tell that to ideological economists who knew good and well that it was not transitory. The data never suggested that.

I don’t have to since they admitted they were wrong.

Conservatives never would do so.

 

[Clipper]

Silicon Valley Bank was shut down by regulators on Friday in the biggest bank failure since the 2008 liquidity crisis.

Silicon Valley Bank reportedly held $173 billion in deposits.

The Fed interest rate is at 4.57% and $117 billion of Silicon Valley Bank securities are yielding only 1.56-1.66% – this is causing a run on the bank.

By Friday Silicon Valley Bank was in FDIC receivership.

The Federal Reserve caused the run on the bank by raising interest rates seven times in 2022.

HERE WE GO: FDIC and Federal Reserve Discuss Creating Fund to Backstop Deposits if More Banks Collapse | The Gateway Pundit | by Cristina Laila

The Federal Deposit Insurance Corp.

www.thegatewaypundit.com

Now the Fed is talking of holding back on rate hikes later this month? Of course! When the middle class was getting burned by higher interest rates for mortgages, autos etc, nobody gave a shit. But when Wall St. goons & the bankster crowd gets hosed there's a panic over high interest rates.

My heart just bleeeeeeds for Wall St.

 

[DBA]

I don’t have to since they admitted they were wrong.

Conservatives never would do so.

They were forced to admit that they were wrong. The point is they were hoping that people would buy their nonsense. The smart ones knew it was nonsense all along but we're running cover for the Biden administration. In short, they put their ideology above their science. Unfortunately, that is commonplace today.

 

[mudwhistle]

Trump’s economy was never strong enough to raise interest rates above one percent. They tried and it nearly put them into recession.

Trump’s economy survived on free money.

Oh, so you think a strong economy includes massive inflation?
Where did you go to school, in Mexico?

 

[mudwhistle]

I don’t have to since they admitted they were wrong.

Conservatives never would do so.

No...Democrats would never admit they're wrong and constantly attempt to censor the truth in all forms of media.

 

[Marener]

They were forced to admit that they were wrong. The point is they were hoping that people would buy their nonsense. The smart ones knew it was nonsense all along but we're running cover for the Biden administration. In short, they put their ideology above their science. Unfortunately, that is commonplace today.

As conservatives have shown, you can’t force anyone to admit they’re wrong.

Conservatives like to use repression, distraction and deflection instead.

Their mistakes and bad predictions are merely shoved down the memory hole.

 

[Dont Taz Me Bro]

Never mind the fact that 3 years ago Silicon Valley Bank hired a Diversity Czar which started hiring practices that eventually led to the bank's collapse. Go woke and go broke.

And your evidence of that is?

 

[eddiew37]

"1st, the collapse had "nothing to do with Trump or Dodd-Frank" and more to do with an "unusual confluence of events."

"The bank "dealt almost exclusively with tech firms which usually rely on continuously rolling over large debts" which means that the firms are "not paying off their debt but simply taking out new debt to pay off the old."

"2nd, SVB put a disproportionate amount of its cash into long-term bonds. Ordinarily, that’s not a bad strategy, but it’s unwise when interest rates are zero because those rates must rise eventually.

When rates rise, bond prices fall. This is because an investor with the choice to buy an existing bond at a low rate or a new bond at a high rate will choose the new bond since it’s a better return on investment.

If you want to sell the old bond with its lower interest rate, you must be willing to sell it at a discount; otherwise, no one will buy it."

"SVB's undiversified clientele meant "too many depositors needed cash all at once" forcing the liquidation of bonds that had lost value and a "death spiral" quickly ensued."

To highly efucated,intelligent people,this clearly spells out the fact that the BI-PARTISAN law Trump signed into law had NOTHING to do with the Silicon Valley Bank's collapse.


Democrats, however, are desperate to avoid being blamed for the second-largest bank collapse in United States history.

Liberals blame Trump for Silicon Valley Bank collapse citing 2018 bipartisan bill

Liberals took to social media to place blame on former President Trump after FDIC regulators shut down Silicon Valley Bank on Friday after it lost $2 billion.

www.foxbusiness.com

Republicans and deregulating banks​

In 1933, when nearly every bank in America had or was failing, Congress passed the Glass/Steagall Act. Banks became stable. It worked.

And then Ronny "We're Republicans, we hate regulations" Reagan came along to deregulate the S&L's. And before he left office, in 1987, the S&L's collapsed.

Not to be outdone, a Texas Republican, Gramm, who is somewhat retarded, like most Republicans, decided to deregulate portions of Glass/Steagall, because he couldn't remember even recent history. 10 years later, in 2008, another banking crisis and numerous failures.

Fast forward to 2018 and we have another group of retarded Republicans led by an idiot nicknamed Donthecon, or Boney, or The Draft Dodger, or The Pussy Grabber, to deregulate regional banks. And what happens? Why of course, 3 regional banks (so far) have collapsed.

"Those who fail to learn the lessons of history are doomed to repeat them".

Hear that giant sucking sound? It's the sound of Republicans sucking America into the vortex of idiocy with their endless failures to learn a goddamn thing, about anything.

 

[mudwhistle]

And your evidence of that is?

Took me 10 seconds to Bing that.

Silicon Valley Bank Hires Chief Diversity, Equity & Inclusion Officer

SANTA CLARA, Calif.—December 2, 2020— Silicon Valley Bank (SVB), the bank of the world’s most innovative companies and their investors, today announced the appointment of Angela Morris Lovelace as the company’s new Chief Diversity, Equity and Inclusion Officer. In this role, Lovelace will...

ir.svb.com

Silicon Valley Bank Hires Chief Diversity, Equity & Inclusion Officer​

December 02, 2020



SANTA CLARA, Calif.—December 2, 2020—Silicon Valley Bank (SVB), the bank of the world’s most innovative companies and their investors, today announced the appointment of Angela Morris Lovelace as the company’s new Chief Diversity, Equity and Inclusion Officer. In this role, Lovelace will champion, promote and guide the company’s diversity, equity and inclusion (DEI) strategies for its global workforce.
SVB continues to invest in building and fostering diversity, equity, and inclusion at SVB, increasing access to the innovation economy for underrepresented groups, and offering support in the communities where SVB operates. SVB’s workforce DEI strategy is a multipronged effort that includes employee awareness programs, continuous training and educational opportunities, hiring outreach programs, leadership development and strategic partnerships. SVB has an executive-led Diversity, Equity and Inclusion Steering Committee and an employee advocacy network focused on these objectives. SVB’s company-wide Access to Innovation initiative drives investment in and opportunity for women, Black and Latinx people in the innovation economy.
“I’m excited to welcome Angela to SVB at this critical time when we are growing our business and our workforce around the world, and are increasing our investment in diversity, equity and inclusion initiatives at SVB and in our communities,” said Greg Becker, CEO of Silicon Valley Bank. “Building on the foundation that our teams have put in place in recent years, Angela’s work will help us to continue to create a diverse workforce at all levels of SVB, an environment where everyone is able to do their best work and drive better business outcomes.”
Lovelace brings more than 20 years of experience in human resources to SVB. She spent the last 16 years at Bank of America in Charlotte, NC where she was most recently Senior Vice President of Workforce Strategy and Development. In that role, she led a comprehensive strategy for recruiting, developing and retaining employees and oversaw diversity, inclusion and engagement initiatives for the global information security business, a global population of more than 3,700 employees.
Lovelace received a Bachelor of Science degree from Tuskegee University and attended the ASCENT Women’s Executive Leadership Program at the Tuck School of Business at Dartmouth. She is passionate about supporting underserved communities through her involvement with organizations including the Charlotte Chamber of Commerce’s corporate diversity roundtable, Dress for Success and United Way.
For more information about SVB’s diversity, equity and inclusion efforts, please review SVB's DEI report.

 

[Dont Taz Me Bro]

Took me 10 seconds to Bing that.

Silicon Valley Bank Hires Chief Diversity, Equity & Inclusion Officer

SANTA CLARA, Calif.—December 2, 2020— Silicon Valley Bank (SVB), the bank of the world’s most innovative companies and their investors, today announced the appointment of Angela Morris Lovelace as the company’s new Chief Diversity, Equity and Inclusion Officer. In this role, Lovelace will...

ir.svb.com

Silicon Valley Bank Hires Chief Diversity, Equity & Inclusion Officer​

December 02, 2020



SANTA CLARA, Calif.—December 2, 2020—Silicon Valley Bank (SVB), the bank of the world’s most innovative companies and their investors, today announced the appointment of Angela Morris Lovelace as the company’s new Chief Diversity, Equity and Inclusion Officer. In this role, Lovelace will champion, promote and guide the company’s diversity, equity and inclusion (DEI) strategies for its global workforce.
SVB continues to invest in building and fostering diversity, equity, and inclusion at SVB, increasing access to the innovation economy for underrepresented groups, and offering support in the communities where SVB operates. SVB’s workforce DEI strategy is a multipronged effort that includes employee awareness programs, continuous training and educational opportunities, hiring outreach programs, leadership development and strategic partnerships. SVB has an executive-led Diversity, Equity and Inclusion Steering Committee and an employee advocacy network focused on these objectives. SVB’s company-wide Access to Innovation initiative drives investment in and opportunity for women, Black and Latinx people in the innovation economy.
“I’m excited to welcome Angela to SVB at this critical time when we are growing our business and our workforce around the world, and are increasing our investment in diversity, equity and inclusion initiatives at SVB and in our communities,” said Greg Becker, CEO of Silicon Valley Bank. “Building on the foundation that our teams have put in place in recent years, Angela’s work will help us to continue to create a diverse workforce at all levels of SVB, an environment where everyone is able to do their best work and drive better business outcomes.”
Lovelace brings more than 20 years of experience in human resources to SVB. She spent the last 16 years at Bank of America in Charlotte, NC where she was most recently Senior Vice President of Workforce Strategy and Development. In that role, she led a comprehensive strategy for recruiting, developing and retaining employees and oversaw diversity, inclusion and engagement initiatives for the global information security business, a global population of more than 3,700 employees.
Lovelace received a Bachelor of Science degree from Tuskegee University and attended the ASCENT Women’s Executive Leadership Program at the Tuck School of Business at Dartmouth. She is passionate about supporting underserved communities through her involvement with organizations including the Charlotte Chamber of Commerce’s corporate diversity roundtable, Dress for Success and United Way.
For more information about SVB’s diversity, equity and inclusion efforts, please review SVB's DEI report.

Okay. And?

 

[mudwhistle]

Okay. And?

The fact that this bank started hiring people because of their sex, race, and sexual-orientation pretty much struck a death knell for the bank's future. It never fails. Go woke, go broke.

Instead of hiring competent employees that gave into political-correctness.
They started screwing up the bank's investments and once the Fed raised interest rates to the point where their investments were losing money, Wallah....they went broke.

 

[Dont Taz Me Bro]

The fact that this bank started hiring people because of their sex, race, and sexual-orientation pretty much struck a death knell for the bank's future. It never fails. Go woke, go broke.

Instead of hiring competent employees that gave into political-correctness.
They started screwing up the bank's investments and once the Fed raised interest rates to the point where their investments were losing money, Wallah....they went broke.

You have zero evidence that any of that caused this failure. I already knew that, of course. My question to you was rhetorical.

 

[Toddsterpatriot]

They ran the printing presses under Trump and made massive corporate bailouts.

That’s a fact.

Now the fed has to deal with it by raising interest rates. It was non stop free money under Trump.

Why didn't Biden tell the Fed to take away the free money in January 2021?
He could have pushed for rate hikes 2 years ago, why didn't he?

 

[Toddsterpatriot]

Trump’s economy was never strong enough to raise interest rates above one percent. They tried and it nearly put them into recession.

Trump’s economy survived on free money.

Trump’s economy was never strong enough to raise interest rates above one percent.

Liar

 

[Dont Taz Me Bro]

They ran the printing presses under Trump and made massive corporate bailouts.

That’s a fact.

Now the fed has to deal with it by raising interest rates. It was non stop free money under Trump.

Yes, they did, and the Democratic Party demanded it. If Trump hadn't pumped out all of that "free" money, you know what you would be here doing? Accusing him of hating the middle class and wanting people to starve.

 

[Marener]

Trump’s economy was never strong enough to raise interest rates above one percent.

Liar

View attachment 765385

True. I got it wrong.

Thanks for correcting me.