Interesting article at Newsweek on the Silicon Valley Bank collapse. Supposedly a huge numbers of depositors were left uninsured. Another shoot first and ask questions later dumb move from the departed orange leader - Trump era roll back of bank regulations resurfaces amid SVB collapse
In the fallout of Friday's run on the bank, some reports noted that a rollback of banking regulations by former President Donald Trump might have weakened SVB's ability to manage risks associated with interest rates. In 2018, according to The New York Times, Trump signed a bill that axed regulatory requirements for regional banks with less than $250 billion in assets.
I think that this issue will result in the unloading of a 747 size clown car. I am amused by the many theories that are being passed around. Since I know little of high finance my opinion is not worth much (I just drive the clown car). From my limited viewpoint it seems that the economy has been on one form of life support or another from the Fed. since 2008, so we are bound to get withdrawal symptoms if the baby bottle is taken away.
Your good bud Barney Frank says Trump had squat to do with it. You and Liz Warren
are scapegoating exactly who we thought you would. You are sooooo predictable. You
can pin the disappearances of Hoffa and Judge Crater on him too. We don't give you
any credibility. Have a nice day.
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