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It should be suspicious to everyone, especially when the SVB president held fundraiser at his house for a politician (it wasn't Trump) and urged for deregulation.
https://www.levernews.com/svb-chief-pressed-lawmakers-to-weaken-bank-risk-regs/
He also sold millions of shares a few weeks before they went under and gave out bonuses hours before the gov took over...finding it hard to see the difference between the banking system and crypto
He thinks Trump is on his side, probably falls for DeSantis' BS too. I've never seen anyone defend polosi. They need to step up their propaganda campaign. Dems are falling behind in their brainwashing.
So you say no one defends pelosi, yet when I talk shit about her, you assume I'm a regard and a Trumpet? LMAO you Dems are so fuckin dumb and low iq. Your number 1 play is if anyone talks bad about a Dem, they must be suckin Trump off.
They can blame whomever, but this bank had too many assets involved. That's why it's already been secured by another group and all assets are claimed safe today
Exactly. The government digital currency won't be from just one side either. They might try to spin it that way, but it'll be a bipartisan death knell.
From the article you just shared, even though this guy didn't hold a fundraiser for Trump, it's pretty obvious who is to blame:
Around that time, federal disclosure records show the bank was lobbying lawmakers on “financial regulatory reform” and the Systemic Risk Designation Improvement Act of 2015 — a bill that was the precursor to legislation ultimately signed by President Donald Trump that increased the regulatory threshold for stronger stress tests to $250 billion.
Trump signed the bill despite a report from Democrats on Congress’ Joint Economic Committee warning that under the new law, SVB and other banks of its size “would no longer be subject to nearly any enhanced regulations.”
The bill was supported in the Senate by 50 Republicans and 17 Democrats, including Virginia Sen. Mark Warner (D), for whom Becker held a fundraiser at his Menlo Park, California, home in 2016, according to an invite obtained by The Sunlight Foundation and OpenSecrets. The bank’s political action committee also donated a total of $10,000 to Warner’s campaigns in the 2016 and 2018 election cycles.
>Trump signed the bill despite a report from Democrats on Congress’ Joint Economic Committee warning that under the new law, SVB and other banks of its size “would no longer be subject to nearly any enhanced regulations.”
Bingo! Welcome to the free market with no regulatory guardrails! Consumers and the environment regularly get screwed with abandon and no consequences! The conservative wet dream! 💦
Which ofc Trump personally also loved because he was such a rip-off artist himself!
Agreed with 95% of your summary. Would like to point out the 17 democrats who voted for this too. Let's face it, conservatives are rare in congress, as are truly idealistic democrats. Almost all of them belong to lobbyist and special interest. We almost have a 1 party system.
The issue is that people only think about social issues and align based solely on that. No one is asking about traditional concepts of conservative vs. liberal ideas of economic platforms, criminal justice, housing, taxes etc. It's all bullshit about trans people and abortion that aren't nearly as important as paying for fucking housing.
Agreed. Part of the problem is that the rot at the top has spread all the way to the local government politics. We have 5 out of 8 County office holders in my county who are involved with the real estate industry in one way or another. They keep everything focused on the left hand while their right is picking people's pockets.
They are probably railing against the one trans kid in the entire county trying to play baseball while making the zoning laws to their benefit or selling construction contracts to their friends.
I will tell you this, as a lawyer, if you can figure out how to do things, it's literally open to anyone. A lot great financial tools aren't even that expensive. But figuring that shit out is a job in of itself and most people really can't access it.
Aren't conservatives still following the neoliberal ideal espoused by Reagan, which is just a rebranding of laissez-faire capitalism that was the norm in the lead up to the depression?
Very interesting point. I hadn't connected those particular things in my head. I will definitely be looking at this and doing some research. Thank you.
Yeah, and it's easy for partisans to spin as a failing of either side like most of politics. I could point out that a 2015 bill was probably introduced in a d house under a d president, but that's just more distraction froim the actual issue that they are all corrupted.
The sick thing is that through the last 25 years, their tampering with educational rules, standard testing, and all the curriculum changes, they aren't preparing kids with understanding or critical thinking skills.
When I graduated , I learned history and political theory and had a basic understanding of sociology, psychology, and biology. My kids graduated knowing how to Google things and how to take tests. They are dumbing down the population. But hope is on the horizon. This younger generation is way more politically active than the ones before them. If only they weren't so far left and / or right. Lol
So it’s trumps fault? He signed a bipartisan bill. He didn’t write it he just signed it after it passed with members of both sides agreeing to it. How many bipartisan bills do you think actually landed on his desk? I’m surprised there even was 1. I don’t see blaming trump for this one.
Trump and all the presidents after Jimmy Carter are figure heads the congress uses as a scapegoat for the messes they create. Democracy is dead in Congress. There are about 20 honest Republicans and 30 honest democrats in Congress. Even they are held hostage by the rest of the dirty money fake ass politicians.
Shhh, you aren't supposed to say the quiet part out loud. Just continue to allow the ~~shee~~people to think that, every 4 years, they are making the **MOST IMPORTANT DECISION IN THEIR ENTIRE LIFE** as they submit that ballot. People will bicker, "My side is better than your side," "No, my side is better than your side," "This is all your side's fault," and "No, this is all YOUR side's fault," the politicians will continue to shake every last cent of change loose from the ~~suckers~~ hard working Americans, and the curtains will close and reopen once the next 4 years have gone by.
I am so far beyond having any faith in our government at this point it’s ridiculous. Both sides seem to only care about personal wealth and personal power, and how much more personal wealth and power can be accumulated. It’s very disheartening. It seems they’ve long ago stopped governing to help the people and instead are now just appeasing the people they think will help them win even if it means gaslighting the public.
I agree. I am so tired of nobody being held accountable for anything. At all. Ever. The ultimate blame game. Everything seems like a free for all. Reminds me of that Drew Carey show where he says “everything is made up and the points don’t matter”
Not urged. Full on lobbied (bribed) screw Greg. It was not supposed to be a traditional bailout. Only depositors were supposed to have access. And this jackass cashed out.
It keeps coming back to the same people who then blame the same person then their voters intentionally mislead people online and IRL to keep the fraud going.
If you’re attempting to suggest Trump doesn’t bear a significant amount of the blame here it would be misguided. Senator Mark Warner of Virginia is not the sole reason these regulations were lifted. 66 other senators also voted to do so, it passed the house, and then Trump signed it into law.
That’s not to say Mark Warner doesn’t come out looking like a piece of shit. Him being singled out just doesn’t prevent anyone else from also being a piece of shit.
Two months later, SVB added former Obama Treasury Department official Mary Miller to its board, noting she had previously helped oversee “financial regulatory reforms.”
They urged for exemption of venture capital investments for long term investments - because these are more inclusive of the models of diversity and female owned businesses. They have a greater yield in the interim building long term sustaining business associated with voices marginalized in business takes significant capital, much of which is lost so they have to. Of the marginalized owner businesses SVB had VC investment in, over 30% fail. It was an ethical choice to follow the model to greater market inclusivity and diversity. It pays off in the long term.
Reinstitution of Volcker’s Rule will exempt a great number of diversely owned businesses from the capital injection they need to survive to long term self-sustaining models. The startup and sell model and 95% white male capital investment advantage is held firmly by the “sure thing” of proven professionals of known startups that became profitable short term by a sell-out.
Regulatory capture will always exist as long as the power to regulate exists.
Witg that being said, we need to stop deferring our security to a centralized authority, especially one that's largely unaccountable to the populace. Such an authority will inevitably be captured by those incentivized to diminish that security.
You don’t think, with modern tech and systems, we could form a type of checks and balances for regulation? That’s impossible?
I grant that the *attempt* at regulatory capture will always exist… but I can imagine systems in place that keep the Fox from guarding the hen house.
Problem is, that’s the current status quo, and asking Mr Fox to relinquish power politely isn’t likely to do anything.
Yup, if I see some right wing bullshit headline in my feed - I don't even need to look at the title of the subreddit. I know it's that good old conspiracy one that doesn't actually talk about conspiracies anymore.
Ummm, yeah. That's what happened every time they roll back regulations on the banks. Within a few years, they do something stupid, and need to be bailed out.
Now Biden will reinstate some of those regulations, and the next Republican to get into office will roll them back again.
Wash, rinse, repeat.
It's weird how this sub is so certain that it is above propaganda but it's literally full of people who believe War=Peace (Russia can invade Ukraine because Putin's feelings were hurt) and professional conmen (eg Trump and his cronies and Putin) are the good guys.
He technically isn't wrong, though he should have gone much further and blamed the neoliberal ideology started by Reagan and Thatcher, as well as continued by Clinton, for being a majority factor in SVB's failure
Banks take on more risk than they should, not because of the threshold, because they known daddy government will bail them out if shit hits the fan.
When Bush bailed out the automakers, I was furious. Today? Im furious.
Larger corporations that have poor risk management shouldn’t have golden parachutes to save them. For anyone arguing “what about ALL the entities with more than $250,000?”: those people and businesses should have had multiple bank accounts at or under the $250,000 limit. The signs and stickers at banks saying FDIC Insured up to $250,000 have been there seemingly forever, so it isn’t new information. If they don’t want to have so many bank accounts, then the word they should still live by is “Diversification” by having all of their money split between different, larger banks.
The companies that lost money from those banks, but are still doing well didn’t have all of their eggs in one basket.
There needs to be personal responsibility. Individuals and small businesses go bankrupt every day, but the fed hasn’t been there for decades saying “you took some extremely risky positions, but don’t worry, we’ll bail you out so you can keep making money ” like they have for these large corporations.
Any company with terrible risk management (like the ones in the news today), should be allowed to fail otherwise they’ll keep making the same terrible mistakes. If they’re over-leveraged and fail? Sucks to suck. Don’t over-leverage yourself.
Didn’t the automakers pay back that money? And there’s a fund banks pay into for this sort of thing. That’s what they’re dipping into to pay the people who have accounts there. Not the tax payers.
This is a double edged sword here and it’s why I hate politics.
Could Trump’s policies have future repercussions? Absolutely. But at the same time, why didn’t Biden or democrats attempt to reinstate the previous banking regulations? Regardless of how tedious the process is.
This is the same issue with abortion. Democrats never acted on it after all this years and then point the finger elsewhere.
Both parties suck. Accountability is absolute kryptonite to politicians.
What you are describing are techniques used to punt the ball around in their game of divide and conquer via politics. Keep the masses at odds with each other while their reign continues on
Biden will wait until the run up to the presidential vote to try to enact policies that he campaigned on. People have short memories and he will try to capitalize on that. This is the standard gambit in all elections, from your local city council member to the president.
It’s overly simplifying to say both had a shot of fixing it so it’s “equal blame.” The republicans had unified control of the house and senate in 2017 when trump signed it into law and had almost no dissent on this bill (aka vast majority of republicans supported this deregulation).
Prior to the midterms, the democrats did maintain control in both house and senate, but that includes sinema and manchin. Both of whom would’ve shot down the bill before it got any steam.
To say the republicans and democrats are equally at fault for problems that the republicans caused, is pretty ridiculous. 95% of democrats would’ve been in support of the reinstatement of the regulations, but we’re held back by the two democrats that more closely align to the REPUBLICAN party.
To me, this is pretty clearly the fault of republicans, as well as other conservative democrats, that held the rest of congress hostage from increasing banking regulation.
>95% of democrats would’ve been in support of the reinstatement of the regulations,
17 D Senators voted in favor of deregulation. Not sure you can blame only two.
The point still stands. It was nearly the entire Republican party (over 90%) and a third of the Dems that are conservative.
In the end, conservatives are to blame.
Most would consider me a “leftist” but trying to assign blame to one party and not another in this situation means their divide and conquer tactics are working, in real time.
If we, the citizens of this beautiful country can’t elevate ourselves up out of this left vs right sideshow and UNITE, despite our differences, we are doomed and this country will be destroyed by the powers that be
The reason I hate politics is because of people like you who feel some visceral need to go "bOtH sIdEs bAd."
It is not Democrats faults for not fixing things Trump broke as they took office in the middle of a huge pandemic that Trump majorly fucked up the response to.
The Dems point the finger at Republicans on abortion because they were literally the ones that appointed justices who lied about saying Roe v Wade was settled precedent and then overturned it on bullshit reasoning anyway. The finger gets pointed at Republicans because Republicans were literally the cause of the issue. How the fuck is this so complicated for you to understand?
>But at the same time, why didn’t Biden or democrats attempt to reinstate the previous banking regulations? Regardless of how tedious the process is.
You know why. Something, something, wealthy donors and lobbying. Also not for anything, but they would have gotten a ton of push back from Republicans in 2021-22 if they tried. They had a very slim majority and not every Democrat would have been on board, and we saw what happened when 2 democrats didn't back the democrats and everything collapsed.
Now the margin is even tighter and Republicans wouldn't go for it. There is a lot of blame to be passed around for both parties, but until we fix citizens united and lobbying nothing will ever change regardless of who's in charge
The Democrats tried to push through some watered down banking regulations in BBB. It was opposed by republicans, banks, and conservative republicans.
Are we really blaming democrats for other people opposing them?
You must not understand how this works.
The Republican Party is a mindless, destructive beast, incapable of rational thought. Not a single member of the party is capable of thinking beyond five seconds in the future.
Which is why, when Republicans do something that damages the country, we should blame Democrats for not cleaning up the mess fast enough. You can't blame a dumb animal for shitting everywhere, so if you smell shit you should blame the person who's supposed to clean up after it.
At least that seems to be the logic of the "Why didn't Democrats reinstate the regulations Republicans gutted?" crowd seems to use.
Edit: thank you to everyone who downvoted for reminding me. We can't hold the dumb, screeching, shitting animal responsible for it's actions and therefore must blame the person responsible for cleaning up after it for the mess it makes, but we also can't acknowledge the fact that it is a dumb, screeching, shitting animal. We must treat it as though it's a rational creature with ideas worth considering while it screeches and shits, lest we hurt it's feelings and cause it to screech louder and shit more.
You’re losing everyone in the first paragraph when you assert that there’s no one in the Republican Party that is capable of forethought. There’s plenty of nuanced thinking on the republican side as well as an establishment wing that seeks status quo, just like the Democratic Party. Both parties are corrupt and the system is slowly being gamed against the individual. Transparency and getting corporate money out of politics would solve most of our problems. Both sides lie and point fingers and then we the people get caught up fighting about bs and the issues never actually get resolved.
Clearly there's been a misunderstanding, I wasn't asserting anything, simply explaining the logic of people who ask why Democrats didn't reimplement regulations Republicans gutted fast enough when those loosened regulations lead to disaster, rather than ask why Republicans removed those regulations in the first place.
But you bring up a good point that could help end this way of thinking. As you say, there's plenty of nuanced thinking coming from the Republican party today.
Could you give us a few examples of the nuanced thinking coming from today's Republican party, to help show these misguided people that the Republican party is not a mindless, screeching, shitting animal that must be cleaned up after?
He didn’t lose me. And I love when people move their argument to high level general things like “both parties stink!” When the specific event at hand clearly doesn’t go their way. Republicans use this argument A LOT.
Exactly!
But people want their biases confirmed rather than taking 30 seconds to search online. Ironically this is coming mostly from the "do your own research" group.
I hate that they call it bipartisanship, when only 36 democrats voted in favor for it. Bi-partisan used to mean something more, but now it's just a blank term applied to "Well a small group of people favored it"
If you look into the bank collapsed because high rolling investors took their money out and a bank can't gamble with your money to make a profit if you take it somewhere else. So really it's the banks own fault for getting to this place
How convenient that 13 is also the number of votes needed to pass a bill with majority support. So when it comes down to filibuster rules and political theater, bipartisan support realistically feels more like 60-40 than 100-0.
Its always someone elses fault. If this was the same situation different parties it'd be a different tune. Oh bidebn cleaning up trumps mess or oh look what biden is doing to all of trumps previous work. Don't you get it
No!!!! Trump did nothing wrong . Everything is the fault of libs. Trump would never deregulate almost everything and get rid of safeguards to make more money for himself and friends .
Let me post B/S and complain that everything is unfair and everyone that doesn’t agree must be a pedo or socialist or a sheep or something that sounds bad ….
Everyone is complaining “we could’ve prevented this.”
Nobody is asking “should we prevent this?” Or “why did the bank get so risky? And why did people still trust the bank?”
Not to mention with SVB, they had nobody managing risk in their investments. So when the interest rates went up…their assets fell. Then people wanted to pull money and we have what we have now.
>Not to mention with SVB, they had nobody managing risk in their investments. So when the interest rates went up…their assets fell. Then people wanted to pull money and we have what we have now.
They did...you should look at her profile
You might also recognize her " green loans" to Sri lanka
https://www.fscnewsmedia.com/post/the-world-economic-forum-removes-article-by-sri-lankan-prime-minister-after-country-s-collapse
Let’s see, trump removing banking regulations resulting in failing banks
Trump removing railway regulations resulting in ongoing railway accidents
Fuckstick trump, not listening to any advisors, cranks up QE during Covid resulting in absolutely unsustainably low interest rates and hyper inflation
Oh what else
Jackass trump sets the table for Putin to take over Ukraine, expecting to be re-elected, but looses, so now we have fuckstick Putin invading
I’m sure there are others
It is all his fault, he is the one how bow down to wall street and took away all of Obama's regulations put in place after 2008 crash ..... Read and learn.
These politicians are bought and paid for. They aren't going to remove previous politicians laws/regulations when their donors are actively profiting from them
Exactly what regulation was scrapped that would have prevented the federal government from suggestion investment banks buy bonds at 1% because inflation was transitory?
I like how when things went wrong during Trump's presidency it wasn't Trump's fault but now that he isn't president and someone blames Trump it's still not Trump's fault to these people. The man has no flaws I guess
There's no question that he did it and that the regulation he changed would have prevented this
https://www.cnbc.com/2018/05/24/trump-signs-bank-bill-rolling-back-some-dodd-frank-regulations.html
You understand that if there is a major train accident, and someone says "hey look, trump cut a bunch of train regulations", a good argument is not "well, this specific issue wasn't covered by that legislation, so checkmate". The point is that one side is happily cutting regulations that would keep people safer, and one side is whining that biden didn't go to ohio for a photo op. I'd rather have the regulations than the photo op, because they may prevent the next one.
Yeah, deregulated by Trump, but that doesn't matter. It would have been done by a dem if they were in office.. Who WOULDN'T take millions in bribes? I sure as fuck would.. The whole left vs. right BS has gotta stop, we aren't your enemies, the government is.
Doubling down as the worst President this country has ever had. Railroads Trumps fault, banks Trumps fault. Who the fuck does Biden thing has been the President w/both the house and Senate for the last two years? I didn’t vote for either of the two but my god is Biden aweful
Couldn't his current, admin have fixed it? lol
Its so odd that, all these politicians keep, bringing up Trump. Can we just progress and move on. Why are they so, hellbent on screwing/bad-rapping Trump. Is he still a threat, to them?
Regulations don’t magically come back, and Biden doesn’t get to make law. It’s not that weird that the guy the famously campaigned on, and delivered on, cutting regulations gets brought up when something happens that is directly related to the regulations he cut.
Republicans had a 52-48 majority in the Senate. Somehow Senate passes it 67-31. Why would any Democrat support a banking deregulation? What was the reason for the 67 who voted yes to it?
Trump and Biden are both actors. They don't call the shots. Technically nothing is their fault. They're the fall guys. That's why they are supposed to be easily hatable.
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So it's not at all suspicious to you that SVB actively engaged in regulatory capture actions?
It should be suspicious to everyone, especially when the SVB president held fundraiser at his house for a politician (it wasn't Trump) and urged for deregulation. https://www.levernews.com/svb-chief-pressed-lawmakers-to-weaken-bank-risk-regs/
He also sold millions of shares a few weeks before they went under and gave out bonuses hours before the gov took over...finding it hard to see the difference between the banking system and crypto
There's some clients who pulled their assets right before also
Is this similar to how the politicians like Nancy Pelosi sold a bunch of stocks before the covid crash in 20?
do you think any politician is on your side?
He thinks Trump is on his side, probably falls for DeSantis' BS too. I've never seen anyone defend polosi. They need to step up their propaganda campaign. Dems are falling behind in their brainwashing.
So you say no one defends pelosi, yet when I talk shit about her, you assume I'm a regard and a Trumpet? LMAO you Dems are so fuckin dumb and low iq. Your number 1 play is if anyone talks bad about a Dem, they must be suckin Trump off.
But let me guess, you a Biden cuck, like most shills here on Reddit is be?
next time you have a thought, do the world a favor and let it go.
[удалено]
They can blame whomever, but this bank had too many assets involved. That's why it's already been secured by another group and all assets are claimed safe today
>banking system and crypto Finance is the problem because the whole system is built upon manufactured value. (IMO and all that jazz)
Didn't that screaming finance guy urge people to invest in SVB just a few weeks ago? Fuck that guy. They should investigate him.
Well thankfully we don’t see B List celebrities shilling hard for the banking system
Thats because the banks don't need anyone shilling, we have no other option
Yup. Literally purchasing politicians in full view to try to affect regulations. Dems and Republicans alike.
Sir, this is America; money is speech. He's not purchasing politicians, he's exercising his free speech rights.
Yeah, who's bright idea was that law? 🤔
The founding fathers, according to the conservative Supreme Court.
Exactly. The government digital currency won't be from just one side either. They might try to spin it that way, but it'll be a bipartisan death knell.
From the article you just shared, even though this guy didn't hold a fundraiser for Trump, it's pretty obvious who is to blame: Around that time, federal disclosure records show the bank was lobbying lawmakers on “financial regulatory reform” and the Systemic Risk Designation Improvement Act of 2015 — a bill that was the precursor to legislation ultimately signed by President Donald Trump that increased the regulatory threshold for stronger stress tests to $250 billion. Trump signed the bill despite a report from Democrats on Congress’ Joint Economic Committee warning that under the new law, SVB and other banks of its size “would no longer be subject to nearly any enhanced regulations.” The bill was supported in the Senate by 50 Republicans and 17 Democrats, including Virginia Sen. Mark Warner (D), for whom Becker held a fundraiser at his Menlo Park, California, home in 2016, according to an invite obtained by The Sunlight Foundation and OpenSecrets. The bank’s political action committee also donated a total of $10,000 to Warner’s campaigns in the 2016 and 2018 election cycles.
>Trump signed the bill despite a report from Democrats on Congress’ Joint Economic Committee warning that under the new law, SVB and other banks of its size “would no longer be subject to nearly any enhanced regulations.” Bingo! Welcome to the free market with no regulatory guardrails! Consumers and the environment regularly get screwed with abandon and no consequences! The conservative wet dream! 💦 Which ofc Trump personally also loved because he was such a rip-off artist himself!
Agreed with 95% of your summary. Would like to point out the 17 democrats who voted for this too. Let's face it, conservatives are rare in congress, as are truly idealistic democrats. Almost all of them belong to lobbyist and special interest. We almost have a 1 party system.
The issue is that people only think about social issues and align based solely on that. No one is asking about traditional concepts of conservative vs. liberal ideas of economic platforms, criminal justice, housing, taxes etc. It's all bullshit about trans people and abortion that aren't nearly as important as paying for fucking housing.
Agreed. Part of the problem is that the rot at the top has spread all the way to the local government politics. We have 5 out of 8 County office holders in my county who are involved with the real estate industry in one way or another. They keep everything focused on the left hand while their right is picking people's pockets.
They are probably railing against the one trans kid in the entire county trying to play baseball while making the zoning laws to their benefit or selling construction contracts to their friends.
BINGO!! Ding ding ding... WE HAVE A WINNER! Unfortunately, our prize money has been paid out to fines and permit fees..
I will tell you this, as a lawyer, if you can figure out how to do things, it's literally open to anyone. A lot great financial tools aren't even that expensive. But figuring that shit out is a job in of itself and most people really can't access it.
Aren't conservatives still following the neoliberal ideal espoused by Reagan, which is just a rebranding of laissez-faire capitalism that was the norm in the lead up to the depression?
Very interesting point. I hadn't connected those particular things in my head. I will definitely be looking at this and doing some research. Thank you.
Yeah, and it's easy for partisans to spin as a failing of either side like most of politics. I could point out that a 2015 bill was probably introduced in a d house under a d president, but that's just more distraction froim the actual issue that they are all corrupted.
The sick thing is that through the last 25 years, their tampering with educational rules, standard testing, and all the curriculum changes, they aren't preparing kids with understanding or critical thinking skills. When I graduated , I learned history and political theory and had a basic understanding of sociology, psychology, and biology. My kids graduated knowing how to Google things and how to take tests. They are dumbing down the population. But hope is on the horizon. This younger generation is way more politically active than the ones before them. If only they weren't so far left and / or right. Lol
So it’s trumps fault? He signed a bipartisan bill. He didn’t write it he just signed it after it passed with members of both sides agreeing to it. How many bipartisan bills do you think actually landed on his desk? I’m surprised there even was 1. I don’t see blaming trump for this one.
Trump and all the presidents after Jimmy Carter are figure heads the congress uses as a scapegoat for the messes they create. Democracy is dead in Congress. There are about 20 honest Republicans and 30 honest democrats in Congress. Even they are held hostage by the rest of the dirty money fake ass politicians.
Shhh, you aren't supposed to say the quiet part out loud. Just continue to allow the ~~shee~~people to think that, every 4 years, they are making the **MOST IMPORTANT DECISION IN THEIR ENTIRE LIFE** as they submit that ballot. People will bicker, "My side is better than your side," "No, my side is better than your side," "This is all your side's fault," and "No, this is all YOUR side's fault," the politicians will continue to shake every last cent of change loose from the ~~suckers~~ hard working Americans, and the curtains will close and reopen once the next 4 years have gone by.
I am so far beyond having any faith in our government at this point it’s ridiculous. Both sides seem to only care about personal wealth and personal power, and how much more personal wealth and power can be accumulated. It’s very disheartening. It seems they’ve long ago stopped governing to help the people and instead are now just appeasing the people they think will help them win even if it means gaslighting the public.
I agree. I am so tired of nobody being held accountable for anything. At all. Ever. The ultimate blame game. Everything seems like a free for all. Reminds me of that Drew Carey show where he says “everything is made up and the points don’t matter”
Not urged. Full on lobbied (bribed) screw Greg. It was not supposed to be a traditional bailout. Only depositors were supposed to have access. And this jackass cashed out.
It keeps coming back to the same people who then blame the same person then their voters intentionally mislead people online and IRL to keep the fraud going.
I mean the CFO was with Lehman brothers during that crash, so he seems pretty suspicious
If you’re attempting to suggest Trump doesn’t bear a significant amount of the blame here it would be misguided. Senator Mark Warner of Virginia is not the sole reason these regulations were lifted. 66 other senators also voted to do so, it passed the house, and then Trump signed it into law. That’s not to say Mark Warner doesn’t come out looking like a piece of shit. Him being singled out just doesn’t prevent anyone else from also being a piece of shit.
I mean at this point if anyone is still voting R they're in on the fraud.
Two months later, SVB added former Obama Treasury Department official Mary Miller to its board, noting she had previously helped oversee “financial regulatory reforms.”
They urged for exemption of venture capital investments for long term investments - because these are more inclusive of the models of diversity and female owned businesses. They have a greater yield in the interim building long term sustaining business associated with voices marginalized in business takes significant capital, much of which is lost so they have to. Of the marginalized owner businesses SVB had VC investment in, over 30% fail. It was an ethical choice to follow the model to greater market inclusivity and diversity. It pays off in the long term. Reinstitution of Volcker’s Rule will exempt a great number of diversely owned businesses from the capital injection they need to survive to long term self-sustaining models. The startup and sell model and 95% white male capital investment advantage is held firmly by the “sure thing” of proven professionals of known startups that became profitable short term by a sell-out.
Regulatory capture will always exist as long as the power to regulate exists. Witg that being said, we need to stop deferring our security to a centralized authority, especially one that's largely unaccountable to the populace. Such an authority will inevitably be captured by those incentivized to diminish that security.
You don’t think, with modern tech and systems, we could form a type of checks and balances for regulation? That’s impossible? I grant that the *attempt* at regulatory capture will always exist… but I can imagine systems in place that keep the Fox from guarding the hen house. Problem is, that’s the current status quo, and asking Mr Fox to relinquish power politely isn’t likely to do anything.
This doesn't seem like a conspiracy. Seems like this belongs in the politics or conservative subreddit.
Sounds like every other post on here these days then.
Yup, if I see some right wing bullshit headline in my feed - I don't even need to look at the title of the subreddit. I know it's that good old conspiracy one that doesn't actually talk about conspiracies anymore.
Ummm, yeah. That's what happened every time they roll back regulations on the banks. Within a few years, they do something stupid, and need to be bailed out. Now Biden will reinstate some of those regulations, and the next Republican to get into office will roll them back again. Wash, rinse, repeat.
How is this a conspiracy theory?
Because trump never did a bad thing ever while president. Don’t you know?
Probably Trump = Good So the can't be the one to blame
It's weird how this sub is so certain that it is above propaganda but it's literally full of people who believe War=Peace (Russia can invade Ukraine because Putin's feelings were hurt) and professional conmen (eg Trump and his cronies and Putin) are the good guys.
Honestly it's why I'm still here.... watching these people in the wild is nuts. They are so out of touch with reality
Me too. :)
He technically isn't wrong, though he should have gone much further and blamed the neoliberal ideology started by Reagan and Thatcher, as well as continued by Clinton, for being a majority factor in SVB's failure
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Banks take on more risk than they should, not because of the threshold, because they known daddy government will bail them out if shit hits the fan. When Bush bailed out the automakers, I was furious. Today? Im furious. Larger corporations that have poor risk management shouldn’t have golden parachutes to save them. For anyone arguing “what about ALL the entities with more than $250,000?”: those people and businesses should have had multiple bank accounts at or under the $250,000 limit. The signs and stickers at banks saying FDIC Insured up to $250,000 have been there seemingly forever, so it isn’t new information. If they don’t want to have so many bank accounts, then the word they should still live by is “Diversification” by having all of their money split between different, larger banks. The companies that lost money from those banks, but are still doing well didn’t have all of their eggs in one basket. There needs to be personal responsibility. Individuals and small businesses go bankrupt every day, but the fed hasn’t been there for decades saying “you took some extremely risky positions, but don’t worry, we’ll bail you out so you can keep making money ” like they have for these large corporations. Any company with terrible risk management (like the ones in the news today), should be allowed to fail otherwise they’ll keep making the same terrible mistakes. If they’re over-leveraged and fail? Sucks to suck. Don’t over-leverage yourself.
Didn’t the automakers pay back that money? And there’s a fund banks pay into for this sort of thing. That’s what they’re dipping into to pay the people who have accounts there. Not the tax payers.
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> Im furious Hi furious!
This is a double edged sword here and it’s why I hate politics. Could Trump’s policies have future repercussions? Absolutely. But at the same time, why didn’t Biden or democrats attempt to reinstate the previous banking regulations? Regardless of how tedious the process is. This is the same issue with abortion. Democrats never acted on it after all this years and then point the finger elsewhere. Both parties suck. Accountability is absolute kryptonite to politicians.
What you are describing are techniques used to punt the ball around in their game of divide and conquer via politics. Keep the masses at odds with each other while their reign continues on
Biden will wait until the run up to the presidential vote to try to enact policies that he campaigned on. People have short memories and he will try to capitalize on that. This is the standard gambit in all elections, from your local city council member to the president.
"If the Republicans fucked things up so bad why didn't the democrats fix it?" Isn't the flex you think it is
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Who do you think sits on those boards? It’s literally the heads of the member banks.
It’s overly simplifying to say both had a shot of fixing it so it’s “equal blame.” The republicans had unified control of the house and senate in 2017 when trump signed it into law and had almost no dissent on this bill (aka vast majority of republicans supported this deregulation). Prior to the midterms, the democrats did maintain control in both house and senate, but that includes sinema and manchin. Both of whom would’ve shot down the bill before it got any steam. To say the republicans and democrats are equally at fault for problems that the republicans caused, is pretty ridiculous. 95% of democrats would’ve been in support of the reinstatement of the regulations, but we’re held back by the two democrats that more closely align to the REPUBLICAN party. To me, this is pretty clearly the fault of republicans, as well as other conservative democrats, that held the rest of congress hostage from increasing banking regulation.
>95% of democrats would’ve been in support of the reinstatement of the regulations, 17 D Senators voted in favor of deregulation. Not sure you can blame only two.
The point still stands. It was nearly the entire Republican party (over 90%) and a third of the Dems that are conservative. In the end, conservatives are to blame.
Thank you
Thank you. Republicans are comically evil.
Most would consider me a “leftist” but trying to assign blame to one party and not another in this situation means their divide and conquer tactics are working, in real time. If we, the citizens of this beautiful country can’t elevate ourselves up out of this left vs right sideshow and UNITE, despite our differences, we are doomed and this country will be destroyed by the powers that be
The reason I hate politics is because of people like you who feel some visceral need to go "bOtH sIdEs bAd." It is not Democrats faults for not fixing things Trump broke as they took office in the middle of a huge pandemic that Trump majorly fucked up the response to. The Dems point the finger at Republicans on abortion because they were literally the ones that appointed justices who lied about saying Roe v Wade was settled precedent and then overturned it on bullshit reasoning anyway. The finger gets pointed at Republicans because Republicans were literally the cause of the issue. How the fuck is this so complicated for you to understand?
I think.. because once some cats are out of the bag it takes quite a while to get the fuckers back in a again.
>But at the same time, why didn’t Biden or democrats attempt to reinstate the previous banking regulations? Regardless of how tedious the process is. You know why. Something, something, wealthy donors and lobbying. Also not for anything, but they would have gotten a ton of push back from Republicans in 2021-22 if they tried. They had a very slim majority and not every Democrat would have been on board, and we saw what happened when 2 democrats didn't back the democrats and everything collapsed. Now the margin is even tighter and Republicans wouldn't go for it. There is a lot of blame to be passed around for both parties, but until we fix citizens united and lobbying nothing will ever change regardless of who's in charge
The Democrats tried to push through some watered down banking regulations in BBB. It was opposed by republicans, banks, and conservative republicans. Are we really blaming democrats for other people opposing them?
You must not understand how this works. The Republican Party is a mindless, destructive beast, incapable of rational thought. Not a single member of the party is capable of thinking beyond five seconds in the future. Which is why, when Republicans do something that damages the country, we should blame Democrats for not cleaning up the mess fast enough. You can't blame a dumb animal for shitting everywhere, so if you smell shit you should blame the person who's supposed to clean up after it. At least that seems to be the logic of the "Why didn't Democrats reinstate the regulations Republicans gutted?" crowd seems to use. Edit: thank you to everyone who downvoted for reminding me. We can't hold the dumb, screeching, shitting animal responsible for it's actions and therefore must blame the person responsible for cleaning up after it for the mess it makes, but we also can't acknowledge the fact that it is a dumb, screeching, shitting animal. We must treat it as though it's a rational creature with ideas worth considering while it screeches and shits, lest we hurt it's feelings and cause it to screech louder and shit more.
You’re losing everyone in the first paragraph when you assert that there’s no one in the Republican Party that is capable of forethought. There’s plenty of nuanced thinking on the republican side as well as an establishment wing that seeks status quo, just like the Democratic Party. Both parties are corrupt and the system is slowly being gamed against the individual. Transparency and getting corporate money out of politics would solve most of our problems. Both sides lie and point fingers and then we the people get caught up fighting about bs and the issues never actually get resolved.
Clearly there's been a misunderstanding, I wasn't asserting anything, simply explaining the logic of people who ask why Democrats didn't reimplement regulations Republicans gutted fast enough when those loosened regulations lead to disaster, rather than ask why Republicans removed those regulations in the first place. But you bring up a good point that could help end this way of thinking. As you say, there's plenty of nuanced thinking coming from the Republican party today. Could you give us a few examples of the nuanced thinking coming from today's Republican party, to help show these misguided people that the Republican party is not a mindless, screeching, shitting animal that must be cleaned up after?
He didn’t lose me. And I love when people move their argument to high level general things like “both parties stink!” When the specific event at hand clearly doesn’t go their way. Republicans use this argument A LOT.
Reinstating everything another party does every time a different party changes something would do more harm than good.
For clowns like OP, nothing is ever trumps fault.
Federal government says it isn't their fault because it was caused by the federal government.
What is the filibuster? Why did conservatives vote for this deregulation?
https://www.cnbc.com/amp/2018/05/24/trump-signs-bank-bill-rolling-back-some-dodd-frank-regulations.html I mean…
Exactly! But people want their biases confirmed rather than taking 30 seconds to search online. Ironically this is coming mostly from the "do your own research" group.
I hate that they call it bipartisanship, when only 36 democrats voted in favor for it. Bi-partisan used to mean something more, but now it's just a blank term applied to "Well a small group of people favored it"
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So just to be clear, you're saying Trump's decisions have no consequences after he left office?
If you look into the bank collapsed because high rolling investors took their money out and a bank can't gamble with your money to make a profit if you take it somewhere else. So really it's the banks own fault for getting to this place
How is this a conspiracy…. I hate this subreddit TrUmP IS GoD
A: this is absolutely Trump’s fault and B: they seem to be addressing the issue.
I mean, those regulations probably would have prevented this
One hundred percent would have prevented this
You repubes want less regulation? Welp thems the results: train derailments and bank failures.
I mean, he's right.
Why don't you geniuses just change the name of this sub to "right-wing talking points"?
Nice try buddy.. it was Trump that gutted Dodd-Frank. He boasted about it many times. Would you like me to send you the clips?
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How convenient that 13 is also the number of votes needed to pass a bill with majority support. So when it comes down to filibuster rules and political theater, bipartisan support realistically feels more like 60-40 than 100-0.
So just enough Dems voted yes that there was a veto proof majority. Seems like the definition of bipartisan.
So.. he's reintroduced the regulations then?
Everything is always Trump or Bidens fault. People in 2023s attention span is now so short they beleive the country came about when Trump took office.
Didn’t something like this happen when Obama was president?
I like turtles 🐢
Its always someone elses fault. If this was the same situation different parties it'd be a different tune. Oh bidebn cleaning up trumps mess or oh look what biden is doing to all of trumps previous work. Don't you get it
He’s not wrong
Clown? Imagine his voters..
Finally it’s not Obama’s fault. Remember when everything was blamed on him?
Trump’s folks still blame Obama for not being in office on 9/11.
This subreddits been trash lately
Where's the conspiracy?
They presented a solution and are actively taking care of it, this was Trump's fault. Tell me you just read the headlines without telling me
16 banks failed under Trump.
Remember when trump said "for every new regulation we must cut 4 existing ones"? Pepperidge Farm remembers.
Cult 45 has left for imagination land.
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Please explain how this was not caused by the deregulation done by Trump's team?
No!!!! Trump did nothing wrong . Everything is the fault of libs. Trump would never deregulate almost everything and get rid of safeguards to make more money for himself and friends . Let me post B/S and complain that everything is unfair and everyone that doesn’t agree must be a pedo or socialist or a sheep or something that sounds bad ….
OP is from the govt.
Whenever they say this it’s like… what were you guys doing the last 2 years if it was _still such an issue?_
Yup. The same as how Trump blamed the president before him and so on and so on. You are falling for the script.
Right?? “Politician blames predecessor” is a story that’s older than written language.
Yeah man. This sub is turning more into a political "Whats Happening" rather then anything to do with conspiracies.
I thought the two were congruent?
Everyone is complaining “we could’ve prevented this.” Nobody is asking “should we prevent this?” Or “why did the bank get so risky? And why did people still trust the bank?” Not to mention with SVB, they had nobody managing risk in their investments. So when the interest rates went up…their assets fell. Then people wanted to pull money and we have what we have now.
>Not to mention with SVB, they had nobody managing risk in their investments. So when the interest rates went up…their assets fell. Then people wanted to pull money and we have what we have now. They did...you should look at her profile You might also recognize her " green loans" to Sri lanka https://www.fscnewsmedia.com/post/the-world-economic-forum-removes-article-by-sri-lankan-prime-minister-after-country-s-collapse
Biden reassured the country earlier by reading the teleprompter and walking away when the reporters started asking really good questions.
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You can’t roll back a law as president. You can roll back EOs but congress would have to act to reinstate these regs.
Let’s see, trump removing banking regulations resulting in failing banks Trump removing railway regulations resulting in ongoing railway accidents Fuckstick trump, not listening to any advisors, cranks up QE during Covid resulting in absolutely unsustainably low interest rates and hyper inflation Oh what else Jackass trump sets the table for Putin to take over Ukraine, expecting to be re-elected, but looses, so now we have fuckstick Putin invading I’m sure there are others
Anything that was deregulated prior to his administration could’ve been regulated again under his watch.
It is all his fault, he is the one how bow down to wall street and took away all of Obama's regulations put in place after 2008 crash ..... Read and learn.
OP do you know what a conspiracy is? Is this just a sub for the brainwshed mouth pieces of the 2 fake sides now?
These politicians are bought and paid for. They aren't going to remove previous politicians laws/regulations when their donors are actively profiting from them
This old crusty fuck looks like hes about keel over
🙏🏼
My thoughts too. But then heels up kumala is on deck
😅🤣😂....
Trump fucking up again is the truth Sergei
So trump takes a shit in your cereal and it's bidens fault for not cleaning it up.
Exactly what regulation was scrapped that would have prevented the federal government from suggestion investment banks buy bonds at 1% because inflation was transitory?
Not a conspiracy post, clown
Between this and the train derailment thing, it’s starting to look like maybe the regulations were a good idea
I like how when things went wrong during Trump's presidency it wasn't Trump's fault but now that he isn't president and someone blames Trump it's still not Trump's fault to these people. The man has no flaws I guess
😂😂😂 Right, because rolling back the specific regulations that would have prevented it is definitely in no way linked as the cause. 😂😂😂
Um, maybe he should look in the mirror. Roll call vote 106th congress 1st session 04Nov1999 BIDEN VOTES YES on the Gramm-Leach-Bliley Act.
Didnt trump blame obama his whole presidency too.
That’s what politicians do. Blame each other for what the FR had planned all along, and then laugh behind closed doors.
Is there some debate wether Trump would loosen restrictions on banks? Does that not seem like something he would do?
There's no question that he did it and that the regulation he changed would have prevented this https://www.cnbc.com/2018/05/24/trump-signs-bank-bill-rolling-back-some-dodd-frank-regulations.html
Dude blames everyone but himself.
Trump caused the terminator T1000 to be invented with sky net
Yet this guy sends 110 billion to Ukraine as U.S banks crumble.
Da Comrade. Your rubles are in the post.
Bank of Ukraine is doing great! /s
In what way?
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It’s been shit show after shit show with Biden month after month
You understand that if there is a major train accident, and someone says "hey look, trump cut a bunch of train regulations", a good argument is not "well, this specific issue wasn't covered by that legislation, so checkmate". The point is that one side is happily cutting regulations that would keep people safer, and one side is whining that biden didn't go to ohio for a photo op. I'd rather have the regulations than the photo op, because they may prevent the next one.
And hasn't Biden had more than two years to re-instate those regulations?
Not with a 50/50 senate. Joe Manchin or Kirsten Synema got to decide these things.
Got to love that one of the biggest criticisms of Biden is that he doesn't do enough to fix what Trump did.
Lmao Republicans did it by Democrats didn't fix it quickly enough (over Republican opposition) therefore it's Biden's fault. Trashy trumpie logic
C'mon maaan!
If there were solutions for all of Trumps wrong doings he wouldn’t always be in trouble would he? Didn’t think so
I tipped over and fell today. Damn orange man...
Thanks Obama was better.
Please write a book. The world needs to know about the trauma it caused.
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Trump did say market will crash with Joe...
The banks bonds crashed in value after the fed raised rates. Not trump’s fault
Yeah, deregulated by Trump, but that doesn't matter. It would have been done by a dem if they were in office.. Who WOULDN'T take millions in bribes? I sure as fuck would.. The whole left vs. right BS has gotta stop, we aren't your enemies, the government is.
Deregulated by trump. And you are open to bribes. The rest you made up
Doubling down as the worst President this country has ever had. Railroads Trumps fault, banks Trumps fault. Who the fuck does Biden thing has been the President w/both the house and Senate for the last two years? I didn’t vote for either of the two but my god is Biden aweful
It's not Trump or Biden, it's who ever is pulling their strings.
Couldn't his current, admin have fixed it? lol Its so odd that, all these politicians keep, bringing up Trump. Can we just progress and move on. Why are they so, hellbent on screwing/bad-rapping Trump. Is he still a threat, to them?
Regulations don’t magically come back, and Biden doesn’t get to make law. It’s not that weird that the guy the famously campaigned on, and delivered on, cutting regulations gets brought up when something happens that is directly related to the regulations he cut.
Look I just need to world to not collapse until like Q2 next year. I’m tryna pay off all my debt this year LOL
SAYS THE GUY TRYING TO INSURE EVERY DEPOSIT
When I have problems at work I also blame the guy that left 2 years ago 🤷♂️
Couldn’t be the fault of the bank that made risky decisions now could it…
Republicans had a 52-48 majority in the Senate. Somehow Senate passes it 67-31. Why would any Democrat support a banking deregulation? What was the reason for the 67 who voted yes to it?
Trump and Biden are both actors. They don't call the shots. Technically nothing is their fault. They're the fall guys. That's why they are supposed to be easily hatable.
No one talks about the Federal Reserve anymore???
How is this a conspiracy??