Posted on 03/14/2023 8:30:00 AM PDT by SoConPubbie
Senator Elizabeth Warren (D-MA) Monday on MSNBC’s “The Rachel Maddow Show” claimed it was former President Donald Trump’s “bank regulation reliefs” that needed to be rolled back to protect against more banks collapsing like Silicon Valley Bank last week.
Warren said, “The way to understand this crisis is that it has three players. The first is Congress and President Trump, who says, let’s weaken the regulation, which hit really hard. The second part is the regulators themselves and, in particular, the Fed and Jerome Powell, the chairman of the Federal Reserve Bank, who took that change in the laws and he ran with it. In fact, he ran further than a lot of people even though the law let him. In tailoring the oversight of those banks in order to make it as weak as possible.”
She continued, “Part three, which is those executives, those bank CEOs who lobbied hard to get this change in law. Those are the ones who, when the window opened, they were ready to go. They went out, and they decided to load up on risk. Why? They loaded up on risk because it made their banks more profitable, and it meant it made them have higher salaries. They got to rule over bigger banks. They got big bonuses. They brought in their friends and did all that by taking on more risk. It worked. SVB increased its profitability of the last three years by 40%. They took on all of the risks and make themselves more profitable right up to the day that the bank exploded. That is the story.”
Warren added, “Congress needs to act. Congress needs to roll back the Trump bank regulation reliefs. We need to make a change because it will affect the regulators, and the regulators will make
(Excerpt) Read more at breitbart.com ...
The de-regulation the Democrats sent to Trump that he signed, had nothing to do with this failure, they gambled and lost
You and your fellow cretins had 2 years to do whatever you wanted, #liawatha
Pure propaganda move. SVB failure had absolutely nothing to do with Trump. This is a grotesque propaganda act. Everybody knows it was malfeasance on the part of the woke bank managers, but Dems are looking to give their corrupt MSM allies talking points so they can endlessly lie about the true causes of the Dem’s failures.
Same old playbook.
First the left makes a bill that Trump signs, than they blame Trump for it hilarious..if this was so darn bad, how come Biden did not reverse it when he took office, he reversed EVERY DAMN THING TRUMP DID but not this..this is what the left does, when they are caught with their pants down they blame someone else..its THEIR fault period!
This woman is an imbecile. How about first we stop printing money to fund wars, subsidize useless green initiatives and mortgage our future away paying folks to stay home and collect benefits....after all sustained hyperinflation wasn’t an issue under a Trump and this is exactly what has got these banks where they are today.
No quite. Trump still had a full republican congress in 2018 when this was signed. He lost congress beginning January 2019.
This is the first sign of woke control. Wait until diversity equity and inclusion join the party on top of ESG. These are the cancers that are replacing the foundations of America. There is no substance, no morals, no experience, no loyalty, nothing
.
Trump only deregged DFAST (Dodd Frank Act Stress Test) slightly which is less comprehensive than the CCAP (Comprehensive Capital Analysis and Review) anywa.
Furthermore, the Californian authorities are the ones that shut the bank down, so Fauxcohauntas is talking out of her ass.
But over 30 demonrats voted for it, they deserve credit too
>Everybody knows it was malfeasance on the part of the woke bank managers
Yeah, anyone with half a brain cell could have seen that inflation was on the way and investments in treasuries and mortgage backed securities would cost the bank billions.
At least they had an all-woman investment team.
> You and your fellow cretins had 2 years to do whatever you wanted <
Bingo. I guess that if Hillary had won in 2016, Biden and Warren would be blaming George W. Bush. Or maybe Herbert Hoover.
Round up the usual GOP suspects.
BTTT
“The de-regulation the Democrats sent to Trump that he signed”
Is that what Warren is referring to, and exactly what bill was it? I must have been asleep or just foget what “banking deregulation” Trump signed. Do you know??
Anyone that believes this as an attack using the word Trump as the spark doesn’t know what google is.
The original major signings of a bank relief bill was done by FDR in 1933. Then, down the road, came the Emergency Economic Stabilization Act of 2008, Bush era, and was backed by both McCain and Obama.
Right before that, Chris Dodd and Barney Frank were caught lying to congress about the success of the opening up of mortgage sales until they were failing left and right. In a meeting concerning Silicon Valley, March 13, Biden said, “...investors in the banks will not be protected. They knowingly took a risk and when the risk didn’t pay off, investors lose their money. That’s how capitalism works.”
So if you can show me where Trump is involved with any of this in a controlling manner, I would be appreciative. Otherwise, it is an embarrassment to have to claim Warren as a republican.
wy69
Biden had a veto proof congress for two years where he could have changed this. He chose not to so it is directly on his shoulders.
Yep talking points are out. Turn a woke driven bank failure into an opportunity to hammer Trump. Lie lie lie and get with the MSM you can exploit another crises you created.
The proper response to each and every one of Pocahontas’ ideas should be to raise the right hand and say, “How?”
I see nothing in Sen. Warren’s analysis regarding low interest debt instruments losing their value as the Federal Reserve raises interest rates.
What was Silicon Valley Bank’s “Chief Risk Officer” doing to address that matter?
Oh, yeah ... THEY DIDN’T HAVE ONE. The position was vacant ...
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