Forbes Magazine: How Trump’s Deregulation Sowed The Seeds For Silicon Valley Bank’s Demise

pyetro

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Jul 21, 2019
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I want to share with you an article that explains how Trump's deregulation led to the collapse of Silicon Valley Bank, one of the largest banks in the country. The article is here: How Trump’s Deregulation Sowed The Seeds For Silicon Valley Bank’s Demise

The article says that Trump signed a law in 2018 that weakened the rules for banks that were put in place after the 2008 financial crisis. The law was called the Economic Growth, Regulatory Relief and Consumer Protection Act (S.2155), but it did not protect consumers at all. It allowed banks like Silicon Valley Bank to take more risks with their money and hide their problems from regulators.

The law was supported by most Republicans and a minority of Democrats who were fooled by the bank lobbyists. Most Democrats voted against it The Senate passed it by a vote of 67-31, with 16 Democrats voting for it. The House passed it by a vote of 258-159, with 225 Republicans and 33 Democrats voting for it. Trump signed it into law on May 24, 2018.

Now we are paying the price for this Trump law. Silicon Valley Bank failed because it gambled on risky loans and investments that went bad. It also lied about its financial health and hid its losses from regulators and investors. The bank's failure caused a lot of damage to the economy and hurt millions of customers, employees and shareholders. This is why we need to hold Trump and his allies accountable for their actions.

They sold us out to the big banks and put our economy at risk. We need to repeal this law and restore strong regulations for banks that protect consumers and prevent another crisis.
 
I want to share with you an article that explains how Trump's deregulation led to the collapse of Silicon Valley Bank, one of the largest banks in the country. The article is here: How Trump’s Deregulation Sowed The Seeds For Silicon Valley Bank’s Demise

The article says that Trump signed a law in 2018 that weakened the rules for banks that were put in place after the 2008 financial crisis. The law was called the Economic Growth, Regulatory Relief and Consumer Protection Act (S.2155), but it did not protect consumers at all. It allowed banks like Silicon Valley Bank to take more risks with their money and hide their problems from regulators.

The law was supported by most Republicans and a minority of Democrats who were fooled by the bank lobbyists. Most Democrats voted against it The Senate passed it by a vote of 67-31, with 16 Democrats voting for it. The House passed it by a vote of 258-159, with 225 Republicans and 33 Democrats voting for it. Trump signed it into law on May 24, 2018.

Now we are paying the price for this Trump law. Silicon Valley Bank failed because it gambled on risky loans and investments that went bad. It also lied about its financial health and hid its losses from regulators and investors. The bank's failure caused a lot of damage to the economy and hurt millions of customers, employees and shareholders. This is why we need to hold Trump and his allies accountable for their actions.

They sold us out to the big banks and put our economy at risk. We need to repeal this law and restore strong regulations for banks that protect consumers and prevent another crisis.
.



For Forbes and pyetro :


iu
 
Deregulation (and, actually, aggressive refusal to regulate) played a huge role in the Meltdown of 2008/2009, opening the floodgates for the shit securities like CMOs, CDOs and CDSs that brought us down.

And, as usual, we learned nothing.
Note that Republicans in comments are not talking about the law in question. They're just posting memes are typing "haha".
It's an admission that they know they screwed it all up.
 
Note that Republicans in comments are not talking about the law in question. They're just posting memes are typing "haha".
It's an admission that they know they screwed it all up.
Well, they're kept in ignorance.

Regulation is commie. Evil. Grunt. That's as deep as it gets for them.
 
I want to share with you an article that explains how Trump's deregulation led to the collapse of Silicon Valley Bank, one of the largest banks in the country. The article is here: How Trump’s Deregulation Sowed The Seeds For Silicon Valley Bank’s Demise

The article says that Trump signed a law in 2018 that weakened the rules for banks that were put in place after the 2008 financial crisis. The law was called the Economic Growth, Regulatory Relief and Consumer Protection Act (S.2155), but it did not protect consumers at all. It allowed banks like Silicon Valley Bank to take more risks with their money and hide their problems from regulators.

The law was supported by most Republicans and a minority of Democrats who were fooled by the bank lobbyists. Most Democrats voted against it The Senate passed it by a vote of 67-31, with 16 Democrats voting for it. The House passed it by a vote of 258-159, with 225 Republicans and 33 Democrats voting for it. Trump signed it into law on May 24, 2018.

Now we are paying the price for this Trump law. Silicon Valley Bank failed because it gambled on risky loans and investments that went bad. It also lied about its financial health and hid its losses from regulators and investors. The bank's failure caused a lot of damage to the economy and hurt millions of customers, employees and shareholders. This is why we need to hold Trump and his allies accountable for their actions.

They sold us out to the big banks and put our economy at risk. We need to repeal this law and restore strong regulations for banks that protect consumers and prevent another crisis.
Delusional article at best
 
I want to share with you an article that explains how Trump's deregulation led to the collapse of Silicon Valley Bank, one of the largest banks in the country. The article is here: How Trump’s Deregulation Sowed The Seeds For Silicon Valley Bank’s Demise

The article says that Trump signed a law in 2018 that weakened the rules for banks that were put in place after the 2008 financial crisis. The law was called the Economic Growth, Regulatory Relief and Consumer Protection Act (S.2155), but it did not protect consumers at all. It allowed banks like Silicon Valley Bank to take more risks with their money and hide their problems from regulators.

The law was supported by most Republicans and a minority of Democrats who were fooled by the bank lobbyists. Most Democrats voted against it The Senate passed it by a vote of 67-31, with 16 Democrats voting for it. The House passed it by a vote of 258-159, with 225 Republicans and 33 Democrats voting for it. Trump signed it into law on May 24, 2018.

Now we are paying the price for this Trump law. Silicon Valley Bank failed because it gambled on risky loans and investments that went bad. It also lied about its financial health and hid its losses from regulators and investors. The bank's failure caused a lot of damage to the economy and hurt millions of customers, employees and shareholders. This is why we need to hold Trump and his allies accountable for their actions.

They sold us out to the big banks and put our economy at risk. We need to repeal this law and restore strong regulations for banks that protect consumers and prevent another crisis.
Silicon Valley Bank failed because it knew the Federal Gubbamint would bail them out
 
Deregulation (and, actually, aggressive refusal to regulate) played a huge role in the Meltdown of 2008/2009, opening the floodgates for the shit securities like CMOs, CDOs and CDSs that brought us down.

And, as usual, we learned nothing.

Not a fucking thing.

Let the losses run with the profits and most of these problems would end.

The banks know the government will bail them out - just as long as they agree to play ball with the regulators and bureaucrats
 
On May 24, 2018, Trump signed into law the Economic Growth, Regulatory Relief and Consumer Protection Act (the “Reform Act”). This was a regulatory relief bill for regional and community bill, which bank lobbyists and numerous politicians had fought hard for.

Thanks to Trump and his supporters this all changed. Some of the key changes that EGRRCPA made were:

Increasing the asset threshold for “systemically important financial institutions” or, “SIFIs,” from $50 billion to $250 billion.

Immediately exempting bank holding companies with less than $100 billion in assets from enhanced prudential standards imposed on SIFIs under Section 165 of the Dodd-Frank Act (including but not limited to resolution planning and enhanced liquidity and risk management requirements).

Exempting in 18 months bank holding companies with between $100 billion and $250 billion in assets from the enhanced prudential standards.

Limiting stress testing conducted by the Federal Reserve to banks and bank holding companies with $100 billion or more in assets.
 
Trump and Republicans didn't sign any laws about the sun. They did sign the 2018 that relates to bank regulation though. But you would rather talk about the Sun and so would I if I was a Republican right now.
Yet Biden and Democrats did absolutely nothing when they had the House, Senate, and White House for two years. Try again. If anything this simply proves liberals are incapable of leadership.
 
I want to share with you an article that explains how Trump's deregulation led to the collapse of Silicon Valley Bank, one of the largest banks in the country. The article is here: How Trump’s Deregulation Sowed The Seeds For Silicon Valley Bank’s Demise

Spare us - a previous thread on this started out with multiple links showing numerous economic experts proving tbe Feds raising interest rates 7 time greatly contributed to the SVB collapse and how Trump signing a BIPARTISAN bill into law had NOTHING to do with it.

I knew, however, if Democrats searched hard/long enough they would find one TDS-sufferer who would blame Trump.

:eusa_doh:
 
Spare us - a previous thread on this started out with multiple links showing numerous economic experts proving tbe Feds raising interest rates 7 time greatly contributed to the SVB collapse and how Trump signing a BIPARTISAN bill into law had NOTHING to do with it.

I knew, however, if Democrats searched hard/long enough they would find one TDS-sufferer who would blame Trump.

:eusa_doh:
TDS = Trump Devotion Syndrome = Defending Trump all the time
You have TDS.
 

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