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

[P F Tinmore]

Doesn't the bank know how to run a bank responsibly? Why blame others for what you do?

 

[Oddball]

Biden isn't Congress. Biden can sign a law only if Congress passes it.
Duh

How many of the 17 EOs that Gropey Joe signed on his inauguration day were passed by congress, Corky?

 

[g5000]

HAHAHAHAHAHAHAHAAAAAAAA
So predictable that you demented avenger subverted demoralized zombies would blame Trump for this.

The law Trump signed reduced capital requirements, and eliminated the stress tests which would have revealed just how dangerous SVB's interest rate risk was.

So yes, Trump and everyone in Congress who voted for the law, bear some responsibility for this bank's failure.

 

[g5000]

Doesn't the bank know how to run a bank responsibly?

I would think the blazingly obvious answer to that question is NO!

2008 taught us that lesson. The S&L crisis taught us that lesson. The LTCM collapse taught us that lesson.

But our bought-and-paid-for politicians and our banks did not LEARN from those lessons.

Why blame others for what you do?

The whole point of bank regulations is to keep their greed from running amok and destroying the country.

If you de-regulate critical banking rules, then you share the blame when they collapse due to lack of oversight.

 

[beautress]

I don't recall Biden or the Democrats trying to do anything to repeal or change this law when they controlled both chanbers of Congress and the Presidency.

Another reporter gets a Soros payday.

 

[Dragonlady]

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 ******* thing.

Every Republican tax cut, which is always accompanied by a spate of deregulation of Wall Street, and a huge increase in the deficit, has been followed by a huge economic crash a few years later, and yet all that Republicans can talk about is more tax cuts.

It's distressing to see that the Murdoch Media is already portraying the Silicon Valley Bank collapse as the result of "woke" policies. The Board was too focused on "diversity", and the affirmative action hires, collapsed the bank. IOW, we must keep white people running things.

Murdoch is seriously in the tank for DeSantis in 2024 so expect that all of Murdoch Media to focus on the anti-woke messaging in support.

 

[SweetTea]

The law Trump signed reduced capital requirements, and eliminated the stress tests which would have revealed just how dangerous SVB's interest rate risk was.

So yes, Trump and everyone in Congress who voted for the law, bear some responsibility for this bank's failure.

Weird that Barney Frank, yes that Barney Frank, who was on the board at Signature Bank doesn't seem to think it was Trump's fault.

 

[P F Tinmore]

I would think the blazingly obvious answer to that question is NO!

2008 taught us that lesson. The S&L crisis taught us that lesson. The LTCM collapse taught us that lesson.

But our bought-and-paid-for politicians and our banks did not LEARN from those lessons.



The whole point of bank regulations is to keep their greed from running amok and destroying the country.

If you de-regulate critical banking rules, then you share the blame when they collapse due to lack of oversight.

Just because the government allows you to act stupid does not mean you have to.

 

[SeaMajor7]

The law Trump signed reduced capital requirements, and eliminated the stress tests which would have revealed just how dangerous SVB's interest rate risk was.

So yes, Trump and everyone in Congress who voted for the law, bear some responsibility for this bank's failure.

Nope. They put aside risk assessment to go woke, and went broke.
Too bad.

 

[Mac1958]

Murdoch is seriously in the tank for DeSantis in 2024 so expect that all of Murdoch Media to focus on the anti-woke messaging in support.

Which will be easy, since almost all they do is talk about it.

 

[FA_Q2]

I fail to see the actual problem here. The bank had bad practices and failed so they went out of business. This is how it is supposed to work.

 

[miketx]

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.

TV tells you that and like the lying bot you are, the spew begins right on que. But, if this so called deregulation that Trump did in 2018 was so bad, why didn't Biden fix it immediately? He's had over two years, Lol, you people are mind dead scum, programmed to parrot the tv 24/7.

 

[Toddsterpatriot]

spent over a half-million dollars bribing…er, influencing…legislators (legalized by 5 Republicans on the Supreme Court)

Banks never donated or lobbied before that, eh?

 

[Toddsterpatriot]

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

This is further proof that Republicans are incapable of sound, responsible governance.

Their bonds lost value under the Biden administration.
Why did Biden destroy this bank?

 

[Toddsterpatriot]

the 2008 meltdown wouldn't have happened without Clinton's deregulation of the baking, insurance and investment industries. the repeal of Glass Steagall erased the once very clear lines between banks insurance companies and investment firms which is what made too big to fail possible.

Glass-Steagall didn't stop banks from writing or buying crappy mortgages.

 

[Toddsterpatriot]

The law Trump signed reduced capital requirements, and eliminated the stress tests which would have revealed just how dangerous SVB's interest rate risk was.

So yes, Trump and everyone in Congress who voted for the law, bear some responsibility for this bank's failure.

How dangerous was the risk 6 months ago, when Fed Funds were 2.50%?
How dangerous was the risk 3 months ago, when Fed Funds were 4.00%?

 

[struth]

The law Trump signed reduced capital requirements, and eliminated the stress tests which would have revealed just how dangerous SVB's interest rate risk was.

So yes, Trump and everyone in Congress who voted for the law, bear some responsibility for this bank's failure.

Nope, it's all Joey Xiden's fault for creating record inflation, and skyrocketing interest rates.

Trump and many others warned what would happen if the demafascist took over and put their policies in place.

 

[Lesh]

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.

It’s a lot easier to DEregulate than to REregulate

 

[Flash]

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.

The Moon Bats always come up with some silly shit to blame their failures on somebody else. Every time.

China made the Biden family rich.

The bank gave tons of money to Chinese startup tech companies.

Biden is bailing out the banks with FDIC funds.

Those dots are very easy to connect.

 

[struth]

It’s a lot easier to DEregulate than to REregulate

Not when you have an executive that is competent....that's are major problem today, the person who's suppose to be enforcing the law is more concerned with maintaining power and punishing political rivals then the American people