Whenever a disaster strikes, you can bet that a story will soon appear blaming “deregulation.” So it was in the immediate aftermath of the train derailment in East Palestine, Ohio. And so it is now with the collapse of Silicon Valley Bank.
Before most people even knew what had happened over the weekend, the left was blaming President Donald Trump. Sen. Elizabeth Warren, in an op-ed published in Monday’s New York Times, said that a bill Trump signed in 2018 that tweaked some banking rules was responsible for SVB’s failure.
“Had Congress and the Federal Reserve not rolled back the stricter oversight, SVB and Signature would have been subject to stronger liquidity and capital requirements to withstand financial shocks,” she wrote.
The press, of course, immediately picked up on this thread, and is now slamming Republicans for their “opposition to stricter regulations.”
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Whenever a disaster strikes, you can bet that a story will soon appear blaming “deregulation.” So it was in the immediate aftermath of the train derailment in East Palestine, Ohio. And so it is now with the collapse of Silicon Valley Bank.
>
Before most people even knew what had happened over the weekend, the left was blaming President Donald Trump. Sen. Elizabeth Warren, in an op-ed published in Monday’s New York Times, said that a bill Trump signed in 2018 that tweaked some banking rules was responsible for SVB’s failure.
>
“Had Congress and the Federal Reserve not rolled back the stricter oversight, SVB and Signature would have been subject to stronger liquidity and capital requirements to withstand financial shocks,” she wrote.
>
The press, of course, immediately picked up on this thread, and is now slamming Republicans for their “opposition to stricter regulations.”
(post is archived)