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ABC host slams regulation cuts 'under President Trump' after Silicon Valley Bank collapse

Freja

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ABC host slams regulation cuts 'under President Trump' after Silicon Valley Bank collapse

ABC host Martha Raddatz noted that Trump-era regulation cuts may have contributed to the rapid collapse of Silicon Valley Bank last week.

While speaking to Sen. Mark Warner (D-VA), Raddatz wondered about the downfall of the go-to bank for tech startups.

"Senator, after the financial crisis in 2008, regulations were put into place to make sure banks could weather large losses," Raddatz told Warner on Sunday. "Under President Trump, some of those were rolled back, and in 2018, you were one of only 17 Democrats who voted for the bill that rolled back some banking rules, including for institutions the size of Silicon Valley Bank."

"Do you regret that vote?" the host asked.

Warner defended the vote: "I do think these mid-sized banks needed some regulatory relief."

"So, Senator, you don't regret that vote?" Raddatz pressed.

"I don't regret that vote," he insisted.

Watch the video below from ABC or at the link.


LINK

 

KraziliaLove

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I do not know enough about the financial world, and I can't know if these rollbacks alone resulted in this, but I am certain it did not help.

Given all the stories we've heard over the years regarding looming banking crises, it's hard to imagine that there were ever enough tough regulations to protect people. There are too many foxes in the henhouse when it comes to our banks.
 

Magnolia45

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The minute the media starts blaming Trump for something is the minute I know they're spewing bullsh*t. That guy (and his supporters) has become the greatest scapegoat since Black people.
 

Freja

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The minute the media starts blaming Trump for something is the minute I know they're spewing bullsh*t. That guy (and his supporters) has become the greatest scapegoat since Black people.
Obama inherited that bank mess so of course he put in regulations. Trump has destroyed most of them to the detriment of the people. Many things can rightly be blamed on Trump.
 

BlowingSoul

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The minute the media starts blaming Trump for something is the minute I know they're spewing bullsh*t. That guy (and his supporters) has become the greatest scapegoat since Black people.
It's not bµllsh!t. Trump signed it, and Republicans supported it. That said, it was bipartisan and some Democrats supported and voted for the legislation as well.
 

wanderwoman

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I do not know enough about the financial world, and I can't know if these rollbacks alone resulted in this, but I am certain it did not help.

Given all the stories we've heard over the years regarding looming banking crises, it's hard to imagine that there were ever enough tough regulations to protect people. There are too many foxes in the henhouse when it comes to our banks.
All you need to know is after the 1920's the Glass-Steagall Act used to protect us from being dragged down with these big banks when they failed but it was dismantled and we've had these crashes we need to bail out ever few years now.
 
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caramel15

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The GOP presidents always damage our country and economy, and then the next Dem president is left to pick up the pieces.
 

wanderwoman

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The GOP presidents always damage our country and economy, and then the next Dem president is left to pick up the pieces.
Not always. Glass-Steagall was repealed under Clinton's Administration. I believe he had a Republican congress at the time though.
 

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Not always. Glass-Steagall was repealed under Clinton's Administration. I believe he had a Republican congress at the time though.

He did. It was under Republican control for most of his first and second terms as president. He couldn't really do much with that especially since Newt Gingrich (or whatever his last name is) was the Speaker of the House at the time.
 

GoGoDani

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Obama inherited that bank mess so of course he put in regulations. Trump has destroyed most of them to the detriment of the people. Many things can rightly be blamed on Trump.
He went on a spree undoing all of Obama's safety nets, just so sh!t like this would happen.

I would never blame him altogether, but his mayhem in his short term is causing us problems.
 

Loeny

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Other points: with the huge increase ( in the billions) of deposit balances over the last few years, why were no loans given?
Why did the top level decision makers sell off the stock right before the crash?

The increase in government money into the economy was the starting point, according to some experts, thus creating inflation in the U.S. I can't speak for other countries.

You can't keep blaming the pandemic. That ship has sailed.

Now look at all of the resulting effects of inflation. This is one.
 

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The great thing about this latest round of finger pointing is that Trump always made a big show of rolling back things, and wanted all the media recording while he announced. There will be plenty of Republicans caught on camera smiling about the the same deregulation being enacted that have led to this crisis.
 

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This is what journalists used to do, y'all. Day in and day out.

Don't get me wrong - there's plenty wrong with the "good ol' days" of journalism. But nowadays, they mainly just provide a platform for politicians to say whatever they want.
 

Loeny

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The great thing about this latest round of finger pointing is that Trump always made a big show of rolling back things, and wanted all the media recording while he announced. There will be plenty of Republicans caught on camera smiling about the the same deregulation being enacted that have led to this crisis.
You DO realized that this was a bipartisan provision. Plenty of Democrats who don't support Trump voting in favor of this.
 

Grand Puma

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Other points: with the huge increase ( in the billions) of deposit balances over the last few years, why were no loans given?
Why did the top level decision makers sell off the stock right before the crash?

The increase in government money into the economy was the starting point, according to some experts, thus creating inflation in the U.S. I can't speak for other countries.

You can't keep blaming the pandemic. That ship has sailed.

Now look at all of the resulting effects of inflation. This is one.
The government infusion of money and they underground economy is keeping prices high
 

MrAtlanta

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The minute the media starts blaming Trump for something is the minute I know they're spewing bullsh*t. That guy (and his supporters) has become the greatest scapegoat since Black people.

Trump signed the bill to deregulate the financial industry. This might have happened if he had not signed that bill.
All you need to know is after the 1920's the Glass-Steagall Act used to protect us from being dragged down with these big banks when they failed but it was dismantled and we've had these crashes we need to bail out ever few years now.
The Republican Congress didn't force Clinton to sign the bill that repealed Glass Steagall. He did it as part of the New Democrat/ DLC agenda, which was to make the Democratic party a more pro-business party. Clinton deregulated many industries, and didn't need the Republicans to make him do it.
 

wanderwoman

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Trump signed the bill to deregulate the financial industry. This might have happened if he had not signed that bill.

The Republican Congress didn't force Clinton to sign the bill that repealed Glass Steagall. He did it as part of the New Democrat/ DLC agenda, which was to make the Democratic party a more pro-business party. Clinton deregulated many industries, and didn't need the Republicans to make him do it.
Where did I say they forced him?
 

MrAtlanta

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Not always. Glass-Steagall was repealed under Clinton's Administration. I believe he had a Republican congress at the time though.

He did. It was under Republican control for most of his first and second terms as president. He couldn't really do much with that especially since Newt Gingrich (or whatever his last name is) was the Speaker of the House at the time.

Where did I say they forced him?
I should've quoted the other font above as well.

You all sounded as if you were excusing Bill Clinton because he had a Republican Congress, particularly when you used the word "though", as if the Republican Congress was responsible and not Clinton himself.

There are fonts on this board who don't hold the Democrats responsible for anything. If a Democratic President signs a piece of bad legislation, they will make excuses and say the Republicans forced him to do it.
 

wanderwoman

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I should've quoted the other font above as well.

You all sounded as if you were excusing Bill Clinton because he had a Republican Congress, particularly when you used the word "though", as if the Republican Congress was responsible and not Clinton himself.

There are fonts on this board who don't hold the Democrats responsible for anything. If a Democratic President signs a piece of bad legislation, they will make excuses and say the Republicans forced him to do it.
Well I said "though" to remind those fonts who don't ever want to admit that Republicans haven't had a policy position intended to help anyone but the rich. I notice this site and this forum in particular attracts many fonts who don't like to admit that.
 

Neva

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Well I said "though" to remind those fonts who don't ever want to admit that Republicans haven't had a policy position intended to help anyone but the rich. I notice this site and this forum in particular attracts many fonts who don't like to admit that.
He’s trying to both sides you. Always deflecting and singing how “no one knows which way he votes.” His piss poor political posts are hilarious.
 

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