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Unfortunately, the party of freedom and business decided to roll back financial regulations that allowed a corrupt and incompetent bank (SVB) to run itself out
by Spooky23 4y ago
Unfortunately, the party of freedom and business decided to roll back financial regulations that allowed a corrupt and incompetent bank (SVB) to run itself out of business and trigger a bank run.
- agensaequivocum 4y agoEven a coauthor of the Dodd-Frank act said that the repeal didn't contribute. > "I don't think that had any effect," said Frank, who retired from Congress in 2012. "I don't think there was any laxity on the part of regulators in regulating the banks in that category, from $50 billion to $250 billion." https://markets.businessinsider.com/news/stocks/signature-bank-regulators-dodd-frank-barney-fed-silicon-valley-failure-2023-3 https://markets.businessinsider.com/news/stocks/signature-ba...
- Spooky23 4y agoFair point, but reading the story critically, it doesn’t really say what you’re interpreting. Frank, a board member of another failed bank, certainly has an interest in a position that everything is fine.
- tekknik 4y agoShould we bring up 2008-2012 again? Shall we discuss what’s about you happen with subprime mortgages (again) or the current financial issues the country is facing? This seems like a silly thing to say when it’s the left focusing on getting people into houses or otherwise spending money they can’t afford.