Trump’s big bank deregs caused back failures

Because whoever needed the Volcker Rule amirite? Mick Mulvaney, dirty money bank lobbyist person and Trump chief of staff, led the league in bank lobbyist cash before Trump eradicated all the banking protections that the prior admin passed. Because that’s what the voters wanted amirite - banking reform? (LMFAO )

Remember, when the GOP has to face this story they will have to justify the eradication of hundreds of banking regulations and claim that the public clamored for that. Right? That’s ALL the public wanted in 2018, right? Lol

You're late

We knew it was Trump's fault the minute something bad happened

Now, go back to sleep

The Office of the Comptroller of the Currency, a part of Yellen's Treasury, is responsible for examining the financial condition of banks. It failed to avert the SVB collapse.

Yellen has been an outspoken activist for climate change, women's rights and diversity, including appointing the Treasury's first ever racial equity officer. Apparently, the hordes of bureaucrats working under her are also too busy with diversity, equity, and inclusion seminars to prevent banks from failing.

But don't worry

Joe says Banks are safe

and

Yellin is calling for a soft landing

unicorns and rainbows for everyone

Admittedly, SVB's managers made mistakes. Banking's first rule is that assets should match deposits. If depositors can demand their money back anytime, then using their money to buy long-term bonds is risky. SVB had to sell $21 billion worth of bonds at a fire sale, taking a $1.8 billion loss.

President Joe Biden created the perfect storm for what may become a string of banking busts. In 2021, he lied about inflation, saying it was temporary and "no serious economist" considered it a threat. Yellen and Federal Reserve Chairman Jerome Powell, whose first term was about to expire, went along with Biden and did nothing to bring down prices. It was the single biggest monetary policy mistake in half a century.

Only one person on the board at SVB had any banking experience

They were all democrat donators tho...and that's all that counts to democrats

and they will be bailed out with your money

Although, all the top crooks took their money out before the fold

knowing it would only make for a bigger crash and bigger losers

but they only cared about themselves...and diversity, of course

This is dems causing the problem due to sheer buffoonery(they can run anything...right into the ground)

Obama even said,"Don't underestimate Joe's ability to F thing up"

and now using the American public to bail out their donators

The 2020 legislation that rolled back regulations from the 2010 Dodd-Frank legislation was a bi-partisan vote passed move. 

Did the "public" want it?  lmao, the vast majority of the public had no clue what it was or how it would affect / not affect them....before or after it was passed.... that majority of that same "public" is now just first learning about Volker rules and Dodd-Frank.  

The bi-partisan legislation was passed for one reason only..... money.  Wallstreet power players on both sides of the aisle lobbied enough of the Dems & Reps to get their way so that the casino could get levered up with more risk.  More risk = more reward.  Bailouts were already the precedent so why worry about the risk.  

This is the system you live in.  The power on both sides of the aisle only care about more power.  Its all one party.... 

Not really.  They will just blame it all on the democrats.   Like always

I don't know if "he lied" about it as I honestly wouldn't give him or this administration enough credit to know the reality of the situation in the first place.  Powell definitely lied, Yellen too but again, but who are the economic advisors whispering in Hologram Joe's ear??  Surround yourself with shit people, get shit advice, end up with shit results.  

As far as JPOW and Janet go.... it was "the single biggest monetary policy mistake in half a century"  SO FAR.  This party is just getting started....watch what the FED decision is next week on rates.  If Jerome bows to political pressure and DOESN'T do .25 interest rate hike then watch the next 4-6 months when we all get to experience double digit hyper-inflation.  China is waiting in the wings of a FED policy mistake to restart their Quantitive Easing program and FULLY open up their economy.  This will "export" inflation to the West, numbing any progress the rate hikes have had (not fully recognized so far due to the lagging nature of rate hikes).  They (us) are screwed....break the economy and reign in inflation or cater to the political pressure (pause/end rate hikes) and experience inflation never before seen in most of our lives.  

What kind of lunatic rolls back banking regulations designed to protect investors and depositors?

one guess  

Lots of back patting and inaccurate messages in this thread.

Banks went big on government paper for the last ten years because there was no other yield out there which met the qualifications of their charter and what is allowed so lots of banks were and are holding debt from lower yields and now that yields are higher that paper is worth less as we saw from the SVB sale. In addition the bank was a large lender for silicon valley gigs and those are very illiquid, you cant sell debt issued to a startup and expect not to get crushed. That means the bank was FORCED to sell their most liquid assets and had to take a loss, they did not want to go that route but since so many of their assets are in illiquid stuff they had no choice and then after taking a loss on their most liquid investments they fell below capital requirements and that was all she wrote.

Did Trump bow to corps, of course he did that is pretty much all he did during his presidency, give corps tax free offshoring, reduce regulations and give corps whatever they wanted. Should banks be held to extremely strict requirements? Well yeah they should it wasnt all that long ago their leverage and stupidity almost took down the economy and about the only event that can wreck an economy is the actions of a bank because bank and currency are the life blood of any economy. 

Discussion is what we want, not hand shakes back patting and bashing of people who have a different viewpoint.

@wallstreetcappers

 Don't fight the FED.... 

whoa nelly there.... "discussion" and not "back patting"  What sub forum do you think you are talking too right now  

This valid point is lost on a lot of people who watch Fox News, as well as almost all partisan rightwing media and partisan websites. 

A helpful reminder too, for those posting in the non-crazy area of the forum if you go into a normal thread say like the NCAA forum and someone is posting plays, if you attack that person or make snide comments because of overflow from this area, you will be boxed or banned for doing so. I would also hope if you do reply in threads with people that you disagree with you would be respectful and considerate.

@fubah2

This point is not "lost" on your political enemies....It is easily ignored due to their and your partisan blindness to reality.  The toe-the-line party narrative that you Boomers so faithfully clutch onto as your own self identity.....  It is your generation, it is hard to separate truth from fiction when your party narrative tells you otherwise. 

The party of intolerance....the uniparty.....DNC & GOP in love with each others power vacuum at the expense of the common folk.... sick.  sad.  American needs better.  

You do yourself no favors..... pot meets the Fupa kettle. 

@wallstreetcappers

 one thing I am thankful for from the MODS is limiting any overflow from this cesspool sub into the mains....either I never see it because it rarely happens or MODs are so quick to squash it I never see it.  

 Bator's thread in the Box right now is an exception.....of course that didn't come from any overflow from this sub, it was just some dummy calling people MAGA names for no reason (cause that only happens & is allowed for a reason in this sub  ) 

P.S.

(insert back patting emoji) here 

not a winning strategy in the long term thats for certain  but great for making the wealthy even more wealthy in the near term

But that's the point, Kel.

For as long as I've known politics dating back to the late sixties, the defacto republican platform as always seemed to tend heavily toward "business first, people second"  whereas the defacto Democrat platform then and still today tends toward a reverse of the GOP platform: "People first; business VERY IMPORTANT but second"

.....among other things too, of course....

yeah, come on Kel.....

exactly !!