Trump, Who Bragged About Gutting Dodd-Frank, Claims ‘Wokeness’ Caused SVB Collapse

[signalmankenneth]

Going after "wokeness" to blame a bank collapse is like going after Iraq when you were attacked by 15 Saudis. - John Fugelsang

WASHINGTON ― Former President Donald Trump on Monday blamed “wokeness” for the collapse of Silicon Valley Bank rather than the law he signed in 2018 that gutted the Dodd-Frank federal regulations on smaller banks.

Trump bragged within days of taking office that he would go after the Dodd-Frank Act, which was signed by President Barack Obama in 2010 after the 2008 financial crisis and which forced banks to be more conservative in investing their depositors’ money.

“Dodd-Frank is a disaster. We’re going to be doing a big number on Dodd-Frank,” Trump said on Jan. 30, 2017, as he signed an executive order requiring that agencies eliminate two regulations for each new one they wanted to implement.

Sixteen months later, he signed a bill that freed regional banks like SVB from many Dodd-Frank rules. “They shouldn’t be regulated the same way as the large, complex financial institutions,” he said. “As a candidate, I pledged that we would rescue these community banks from Dodd-Frank, the disaster of Dodd-Frank, and now we are keeping that commitment.”

Despite this, Trump in recent days has been blaming corporate “wokeness.” On Sunday and Monday, Trump amplified posts claiming that SVB’s policies regarding diversity and environmentalism were behind the bank’s failure. (BuzzFeed, HuffPost’s parent company, banked with SVB.)

“The same wokeness that pushed banks to dish out subprime mortgages to unqualified buyers and crashed the economy in 2008 has now rebranded as ESG and DEI and is crashing our financial system again in 2023,” read one post by lawyer and “commie fighter” Rogan O’Handley that Trump shared with his 5 million followers on his social media platform, Truth Social. He was referring to “environmental, social and governance” guides on socially responsible investing and to “diversity, equity and inclusion” considerations in business.

https://www.yahoo.com/news/trump-bra...005804658.html


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[evince]

History just keeps repeating


The republicans deregulate an industry and we get Enron


Or banking and we get a worldwide crash


Then in their spare time they lie us to war


Deregulation and tax cuts for the wealthy


Massive gun crimes because they deregulate guns


Deregulation done the right wing way is idiocy

[Theywillneverlearn!]

Barney Frank himself was on the board of directors of SVB they day it tanked. And was since 2015. STFU cartoon Ken. Your retarded fuck.

[evince]

Barney Frank himself was on the board of directors of SVB they day it tanked. And was since 2015. STFU cartoon Ken. Your retarded fuck.

Suck putins cock you lying assbag

[Trumpet]

Barney Frank himself was on the board of directors of SVB they day it tanked. And was since 2015. STFU cartoon Ken. Your retarded fuck.

Poopeye, whatever happened to your fleet of ships, did they sink????????????????

[Theywillneverlearn!]

Suck putins cock you lying assbag

Look it up you stupid cunt. If you are capable. All the others on the left ran away from this subject once I provided the link. You and Cartoon Ken???? Still more retarded than the rest of the left.

[evince]

https://www.npr.org/2023/03/13/11631...-bank-collapse



He served on the board of Signature Bank, passed signature legislation following the 2008 financial collapse known as the Dodd-Frank Act and he chaired the House Financial Services Committee and joins me now.


He was on the board of Signature


So you lied

[evince]

Look it up you stupid cunt. If you are capable. All the others on the left ran away from this subject once I provided the link. You and Cartoon Ken???? Still more retarded than the rest of the left.

You lied asshole

[evince]

When the bank laws were written there was no such thing as cryptocurrencies

[evince]

Barney Frank himself was on the board of directors of SVB they day it tanked. And was since 2015. STFU cartoon Ken. Your retarded fuck.

Wrong bank idiot

[evince]

It seems they may have closed Signature because the the top two people were doing some pocket filling

[evince]

https://finance.yahoo.com/news/signa...JJUDfrqPftbzEX



Shareholders are suing the CEO


They are not suing the board


So your whole thing is not what you hoped

[Nordberg]

Dodd-Frank was doomed by the banking powers. It did some good. But it was weaker than it should be due to Repubs and big money fighting it to death. In fact, SVB would have been scrutinized under Dodd-Frank until Trump cut it back. The level for scrutiny and allocation of resources was 50 mill and Trump elevated it to 250 and under. https://www.investopedia.com/terms/d...eform-bill.asp

[evince]

Yeap it was DEREGULATION not regulations that caused the idiot moves these buttholes made

[Nordberg]

Again you stupid rightys, regulations are your friends. They are all you have to fight against the wealthy and corporations. That is why they want them gone. You should be fighting for stronger ones.