I am just praying that the House is strong enough to NOT enact any legislation to bail them out.
I have it on good authority that it's all Trump's fault in the first place.Miss trump yet?
Doesn't work he's been gone for 3 years and the Dems held both houses of Congress for twoI have it on good authority that it's all Trump's fault in the first place.
MSN
www.msn.com
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ABC host slams regulation cuts 'under President Trump' after Silicon Valley Bank collapse
ABC host Martha Raddatz noted that Trump-era regulation cuts may have contributed to the rapid collapse of Silicon Valley Bank last week.While speaking to Sen. Mark Warner (D-VA), Raddatz wondered about the downfall of the go-to bank for tech startups."Senator, after the financial crisis in...www.rawstory.com
There's no statute of limitations on how long they can throw the blame on somebody else.Doesn't work he's been gone for 3 years and the Dems held both houses of Congress for two
The problem is the fed and the FDIC and other unelected officials, and Bidon signing shit and going over the legislature's head IMHO.I am just praying that the House is strong enough to NOT enact any legislation to bail them out.
Yeah, it wasn't the bank getting greedy, not diversifying and doing everything it could to keep it's AuM below the threshold for tougher reserve requirements.I have it on good authority that it's all Trump's fault in the first place.
MSN
www.msn.com
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ABC host slams regulation cuts 'under President Trump' after Silicon Valley Bank collapse
ABC host Martha Raddatz noted that Trump-era regulation cuts may have contributed to the rapid collapse of Silicon Valley Bank last week.While speaking to Sen. Mark Warner (D-VA), Raddatz wondered about the downfall of the go-to bank for tech startups."Senator, after the financial crisis in...www.rawstory.com
is there actual reasons to blame trump other than TDS? at a glance they are saying he got rid of some regulations but really all he did was carve out some exemptions so banks with less than $10B could be competitive, and raise the Too big to fail number that a bank has to hit for government bailouts from $50B to $250B. near as I can tell it is more that they overleveraged themselves into high risk investments that had high ESG scores.There's no statute of limitations on how long they can throw the blame on somebody else.
More like high risk customers and illiquid collateral.is there actual reasons to blame trump other than TDS? at a glance they are saying he got rid of some regulations but really all he did was carve out some exemptions so banks with less than $10B could be competitive, and raise the Too big to fail number that a bank has to hit for government bailouts from $50B to $250B. near as I can tell it is more that they overleveraged themselves into high risk investments that had high ESG scores.
No, there's no connection to Trump. I'm just posting these to enjoy the TDS and laugh at them for thinking there is.is there actual reasons to blame trump other than TDS? at a glance they are saying he got rid of some regulations but really all he did was carve out some exemptions so banks with less than $10B could be competitive, and raise the Too big to fail number that a bank has to hit for government bailouts from $50B to $250B. near as I can tell it is more that they overleveraged themselves into high risk investments that had high ESG scores.
Yup.No, there's no connection to Trump. I'm just posting these to enjoy the TDS and laugh at them for thinking there is.
Even if the bill directly and provably caused the failure, this wasn't a Trump bill or anything Trump championed, it was literally just one of many bills that went through both houses and Trump signed into law. They're acting as if this was an Executive Order rather than a law that passed through Congress and that Trump had a very tangential involvement in. One can't even lay it at the Republican's feet, the bill was first sponsored by 12 Republicans, 12 Democrats, and 1 Independent and while it got more Republican votes, it still had 16/31 Democrat votes... and this was in the highly divided Trump Era when you couldn't get a Democrat and a Republican to agree on the color of an orange.
Articles like the ones I posted mentioned how SVB "lobbied" without mentioning who they lobbied.
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SVB Financial Group Profile: Recipients
SVB Financial Group organization profile: candidate recipients for the 2022 cycle and top recipients of all types for the 2020 cycle.www.opensecrets.org
The actual text of the bill can be seen here:
It did not directly lead to the failure in any way as none of the regulations that were eased for small banks had anything to do with the behavior that led to Silicon Valley Bank failing. It could fairly be laid at Biden's feet due to the massive inflation and need for sudden massive spikes in the interest rates to correct for it much more than it could be attributed to Trump for signing a bipartisan bill that made it through both houses half a decade ago.
another bank has failed. Signature Bank of New York. buckle up buckaroos.
Biden's reassuring everybody that all the things are safe, and confirms that it's all Trump's fault and never his.
Incidentally, it's come out that Trump predicted this would happen all the way back in 2015 and predicted the current banking bubble was going to burst as soon as they raised interest rates.
EDIT: Also amusing to me to note Biden's rushing to California right away to reassure people about this crisis after dragging his heels on Ohio's much more life-threatening one for weeks.
they already as a state needed a bailout. they gave massive pensions to a bunch of state employees that they can't afford. add that to their spendthrift ways and even before this they were fucked.I wonder how much money the governor of CA just lost? He has a bunch of angry voters over this. If Cali needs a bailout because of this...Well they had their chance.
Yeah, he is a former FED employee and had gotten more than a little bit institutionalized within the system.That guy's all about the current system's good. No concern about the underlying issues with the greater system.
Patrick Boyle is less personally invested in the system, so he is more direct with his criticisms, and these guys are rpetty much milk toast compared to some other people I follow:He's a establishment guy, who want's to limit all the problems to Silicon Valley Bank.
(I don't think he's lying, but I do think he's unwilling to look deeper, at the real problems. His life is entirely within the system, so he'll never say the system as it stands is the real problem.)
Electoral College Votes Matter!EDIT: Also amusing to me to note Biden's rushing to California right away to reassure people about this crisis after dragging his heels on Ohio's much more life-threatening one for weeks.