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Sen. Warren: Bank failures a direct result of 2018 deregulation!

Silicon Valley Bank. Credit: The New York Times

Washington Congressional leaders weakened financial rules in 2018

+ MSNBC’s Rachel Maddow Show: Senator Warren on how to fix what Trump broke in banking rules – Senator Elizabeth Warren talks with Rachel Maddow about how the recent collapse of the Silicon Valley Bank and others was an entirely foreseeable consequence of the Trump-championed rollback of banking regulations in 2018, and why “banking should be boring.” 

+ The New York Times Guest Essay [accessible text]: Elizabeth Warren: Silicon Valley Bank Is Gone. We Know Who Is Responsible. “These recent bank failures are the direct result of leaders in Washington weakening the financial rules.”

+ Truthout: Warren: Jerome Powell Should Recuse Himself From Bank Probe for Role in Failure – The Silicon Valley Bank failure was caused in part by deregulation pushed by Powell, Warren says.

+ MSNBC’s All In With Chris Hayes: ‘Preventable’: Rep. Katie Porter calls for repeal of Trump-era bank deregulation – “This comes from a failure to appropriately regulate big banks,” says Rep. Katie Porter on the collapse of SVB and the need to repeal a 2018 banking deregulation law. “This is what happens when we have politicians cater to Wall Street instead of working families.”

Posted by Steve on March 15, 2023 at 12:31 am | Permalink

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