cstarman417
As you know, Silicon Valley Bank has folded along with Signature Bank and a few other banks are showing signs of trouble. Predictably, Joe Biden- on whose watch his happened- immediately blamed Donald Trump.
President Joe Biden blamed former President Donald Trump for the collapse of Silicon Valley Bank (SVB) and Signature Bank, attributing their demise to Trump’s rollback of some Obama-era policies.
“During the Obama-Biden administration, we put in place tough requirements on banks like Silicon Valley Bank and Signature Bank, including the Dodd-Frank law to make sure that the crisis we saw in 2008 would not happen again,” Biden said during his Monday remarks.
Dodd-Frank law, you say? Hold that thought.
He was followed closely by Indian princess Elizabeth Warren who pointed a smoke signal at Trump.
It is true that Trump signed a bi-partisan bill which rolled back some regulations in 2018.
But regulators watching SVB were lax, but it had nothing to do with the 2018 legislation.
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