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

[BothWings]

8 years earlier.

Right (stand corrected)....but you get the idea.

 

[Mac1958]

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.

Limiting stress testing conducted by the Federal Reserve to banks and bank holding companies with $100 billion or more in assets.

Here is an excellent, informative, CALM, non-hyperbolic discussion of how the OP is correct.

Start at 6:17:

 

[Captain Caveman]

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.

ALL banks are broke because they all lend money that they don't have, irrespective of past, current, and future regulations.

 

[Smokin' OP]

ALL banks are broke because they all lend money that they don't have, irrespective of past, current, and future regulations.

They have it, just not on hand.
That's why there are 12 federal reserve banks throughout the country.
Are you broke because all your $$$ is in wall street stocks?
It would seem so............until you liquidate them.

 

[Toddsterpatriot]

ALL banks are broke because they all lend money that they don't have, irrespective of past, current, and future regulations.

Every loan is fully funded. That means they loan money they have.

 

[abu afak]

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.

This IS a Republican/MAGAt Low IQ Troll board. App 70%
Off topic Flaming and high-Fiving is by far Thee most common post on USMB.
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[John Edgar Slow Horses]

Trump is at the bottom of all that is wrong with America, including female infertility.

Seeing his face just scare so many women so badly.