https://www.cnbc.com/amp/2018/05/24/trump-signs-bank-bill-rolling-back-some-dodd-frank-regulations.html Specifically- “The measure eases restrictions on all but the largest banks. It raises the threshold to $250 billion from $50 billion under which banks are deemed too important to the financial system to fail. “ This bill let SVB avoid restrictions that would have limited SVB from making the bad investment decisions that led to its collapse. Great Job Trump and Republicans! 👏👏👏
The main bullet item ... "The law, which Congress passed with bipartisan support, eases rules on all but the largest institutions" Btw, no president passes a law but merely signs it. Both parties are equally responsible in this case if the said repealed laws had any chance of preventing SVB incident. Unlike a law passed by Congress, an executive order is different, which is responsible by Potus
😂 Right so Trump’s not responsible for bills he signs into law now? Makes total sense 👌
Nothing new. Trump alongside all Democrats and Republicans who supported this bill are responsible (including 33 Democratic house members and 17 democratic senators). Bigger question is then becomes, why didn’t Democrats roll it back when they had the trifectas? That makes all of them responsible, including Biden.
The current administration has been in office for over 2 years now. What fly were they swatting if this was so important? Why didn’t they bring this back?
The article doesn't say anything about SVB. This is just OP's own speculation which also does not elaborate on how Dodd-Frank would have prevented any specific SVB action, assuming OP even knows which ones caused SVB to collapse. Also the article itself says the rollback was a bipartisan effort and did not apply to "large" banks.
Buuuuuutt Orange Man Bad!!
https://fortune.com/2023/03/11/silicon-valley-bank-svb-ceo-greg-becker-dodd-frank-trump-rollback-systemically-important-fdic/amp/ Imagine using Google to be informed. Nancy Pelosi and Elizabeth Warren were against it. Ultimately president signs the bill. How easily people forget we were on the brink of collapse in 2008. As usual Democrats have to clean up Republican mess.
Lol..blame everything on trump! When clearly mistake lies on SVB management and board .. but we will let that slide because they need to cash out money and slide..
It sounds like it should be reverse - rolling back dodd-frank should have helped svb to stay afloat. But it didn't. Also current administration had enough time to revert this back just like it did with some others regulations. I can understand your dislike of Trump but this one is the weakest argument for it.
No, it’s because the current administration was distracted https://www.nytimes.com/2023/02/27/opinion/janet-yellen-ukraine-russia.html
Thanks for the dumb opinion piece
He literally signed the bill to roll back Dodd Frank which would have put stricter standards on smaller banks like SVB. Elections have consequences 🤡🤡🤡