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Wow: > Some banking experts on Friday pointed out that a bank as large as Silicon Valley Bank might have managed its interest rate risks better had parts of th
by consumer451 4y ago
Wow:
> Some banking experts on Friday pointed out that a bank as large as Silicon Valley Bank might have managed its interest rate risks better had parts of the Dodd-Frank financial-regulatory package, put in place after the 2008 crisis, not been rolled back under President Trump.
> In 2018, Mr. Trump signed a bill that lessened regulatory scrutiny for many regional banks. Silicon Valley Bank’s chief executive, Greg Becker, was a strong supporter of the change, which removed the requirement that banks with assets under $250 billion submit to stress testing by the Fed, and changed requirements for the amount of cash they had to keep on their balance sheets to protect against shocks.
https://www.nytimes.com/2023/03/10/business/silicon-valley-bank-stock.html https://www.nytimes.com/2023/03/10/business/silicon-valley-b...
- subarctic 4y agoThis was new information for me, but somehow I don't share your surprise that there's a NY Times article that mentions that Trump is to blame.
- consumer451 4y agoMy surprise was not partisan in nature. But that information is not going to come from Fox News, so the system is working as intended then?
- dragonwriter 4y agoI mean, really Clinton is to blame for Glass-Steagall repeal, but Trump weakened the measures put into place that partially mitigated the risk from the Clinton policy. Just as Clinton threw out the risk mitigation measure put into place after the Great Depression, Trump undermined the partial replacement put into place after the Great Recession. If Trump deserves more blame, its because the reason the idea was bad was much more fresh at the time of his action.
- consumer451 4y agoThey can both be wrong in my book.
- goolz 4y agoYes, thank you, why can't both sides of the isle be to blame?