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Elizabeth Warren: Silicon Valley Bank Is Gone. We Know Who Is Responsible. (TDS alert)
NY Times ^ | March 13, 2023 | Sen Elizabeth Warren (Fraud-MA)

Posted on 03/13/2023 9:13:05 PM PDT by DoodleBob

...Had Congress and the Federal Reserve not rolled back the stricter oversight, S.V.B. and Signature would have been subject to stronger liquidity and capital requirements to withstand financial shocks. They would have been required to conduct regular stress tests to expose their vulnerabilities and shore up their businesses. But because those requirements were repealed, when an old-fashioned bank run hit S.V.B‌., the‌ bank couldn’t withstand the pressure — and Signature’s collapse was close behind.

On Sunday night, regulators announced they would ensure that all deposits at S.V.B. and Signature would be repaid 100 cents on the dollar. Not just small businesses and nonprofits, but also billion-dollar companies, crypto investors and the very venture capital firms that triggered the bank run on S.V.B. in the first place — all in the name of preventing further contagion.

Regulators have said that banks, rather than taxpayers, will bear the cost of the federal backstop required to protect deposits. We’ll see if that’s true. But it’s no wonder the American people are skeptical of a system that holds millions of struggling student loan borrowers in limbo but steps in overnight to ensure that billion-dollar crypto firms won’t lose a dime in deposits.

...

First, Congress, the White House‌ and banking regulators should reverse the dangerous bank deregulation of the Trump era....

Second, regulators should reform deposit insurance so that both during this crisis and in the future, businesses that are trying to make payroll and otherwise conduct ordinary financial transactions are fully covered — while ensuring the cost of protecting outsized depositors is borne by those financial institutions that pose the greatest risk. Never again should large companies with billions in unsecured deposits expect, or receive, free support from the government.

(Excerpt) Read more at nytimes.com ...


TOPICS: Business/Economy; Government; News/Current Events; US: California; US: Massachusetts
KEYWORDS: bank; california; elizabethwarren; kamalaharris; massachusetts; pocahontas; spewbarfslimes; spewyorktimes; svb; warren
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1 posted on 03/13/2023 9:13:05 PM PDT by DoodleBob
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To: DoodleBob

We have more federal and state banking regulators than ever with lesser banks to regulate.

Deregulation is the problem! I’m stealing this-if she had one less IQ point, she’d be a leaf blower.


2 posted on 03/13/2023 9:17:40 PM PDT by Freest Republican (This space for rent)
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To: DoodleBob

If only Social Security was a bank…


3 posted on 03/13/2023 9:24:44 PM PDT by mikey_hates_everything
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To: DoodleBob

The Democrats were in charge of Congress for two whole years. Why didn’t they re-regulate the banks if Trump’s deregulation was so bad?


4 posted on 03/13/2023 9:25:56 PM PDT by IYAS9YAS (There are two kinds of people: Those who can extrapolate from incomplete data.)
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To: IYAS9YAS
The Democrats were in charge of Congress for two whole years. Why didn’t they re-regulate the banks if Trump’s deregulation was so bad?

Pocahontas and Bernie the Grifter think that if they scream loud enough, no one will remember that little factoid.

5 posted on 03/13/2023 9:30:36 PM PDT by kiryandil (China Joe and Paycheck Hunter - the Chink in America's defenses)
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To: DoodleBob

Little discussed is all the lefty cash in that bank.

I commented to someone last night that I’m dubious they’d have been so quick on the draw had this been a Texas bank.


6 posted on 03/13/2023 9:33:42 PM PDT by logi_cal869 (-cynicus the "concern troll" a/o 10/03/2018 /!i!! &@$%&*(@ -)
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To: DoodleBob
Elizabeth Warren: Silicon Valley Bank Is Gone. We Know Who Is Responsible.

Yes. Yes, we do. Joe Biden and his apocalyptic spending are responsible. He created inflation levels we have not seen in decades, leading to interest rates we haven't seen in decades. Woke banks more interested in left-wing posturing than in sound financials are heavily invested in plays that need low interest rates to succeed, and Biden's catastrophic fiscal policies flushed that plan down the toilet.

The truth can't be avoided by mindless fake-Indian babble about deregulation.
7 posted on 03/13/2023 9:46:09 PM PDT by AnotherUnixGeek
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To: DoodleBob

If Warren or any of her acolytes(See Katie Porter-Moron running for Senate in California) get their tentacles into the financial sector, you can kiss that sector goodbye.

You might as well give matches, gasoline, and fireworks to a couple of adolescent pyromaniacs and hope they “build a house.”


8 posted on 03/13/2023 9:57:26 PM PDT by unclebankster ( Globalism is the last refuge of a scoundrel.)
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To: Freest Republican

She’d suck at that too


9 posted on 03/13/2023 10:03:04 PM PDT by cableguymn
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To: DoodleBob

On Monday, Biden had already blamed Donald Trump....


10 posted on 03/13/2023 10:04:48 PM PDT by minnesota_bound (Need more money to buy everything now)
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To: IYAS9YAS

Pwesident Poopy Pants was too busy getting his butt wiped for two years to change those horrible regulations that Former Guy put in place.


11 posted on 03/13/2023 10:35:53 PM PDT by TigersEye (Woke is a cancer of the mind and humanity)
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To: DoodleBob

Stress tests require actuaries and a functioning risk assessment dept. Rosk assessment is anathema,a to ESG.


12 posted on 03/13/2023 11:28:26 PM PDT by Eva
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To: DoodleBob

Bfl


13 posted on 03/14/2023 1:32:40 AM PDT by RoosterRedux
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To: DoodleBob

those who point are the problem


14 posted on 03/14/2023 2:22:47 AM PDT by ronnie raygun
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To: DoodleBob

Lizzie, please take your meds.


15 posted on 03/14/2023 3:43:16 AM PDT by Shady (DC Politicians have negated their need to represent US when they bastardized the vote.)
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To: ronnie raygun

“The smeller is the feller”


16 posted on 03/14/2023 4:20:01 AM PDT by Brandonmark (November 2024 cannot come soon enough!)
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To: DoodleBob

Joe Biden’s inflation is killing the banks. They have nothing to invest in anymore and the things they did invest in collapsed from high inflation.

Plus woke investments are BS. There were a lot of woke investments in SVB.

So the Democrats’ ATM was shut down? wah, wah, wah.


17 posted on 03/14/2023 4:21:14 AM PDT by Baldwin77 (The more corrupt the state, the more numerous the laws. -Tacitus)
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To: Freest Republican

That’s apparently what got the current Vice President moving, ahem, ahead.


18 posted on 03/14/2023 4:46:42 AM PDT by Dahoser (I finally figured out what to call him: Fakephonyfraudident Biden.)
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To: DoodleBob

There were over 500 bank failures during the Obama administration. doesnt look like those regs did a thing.


19 posted on 03/14/2023 6:14:23 AM PDT by circlecity
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To: DoodleBob

She’s smoking that stuff in her pipe again she’ll be down for a few days.


20 posted on 03/14/2023 9:07:35 AM PDT by Vaduz (LAWYERS )
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