Katie Porter was visibly upset by the ignored warnings both she and Senator Elizabeth Warren gave during Trump and Republicans relaxing banking regulations.
Katie Porter did not blink!
The host asked Katie Porter what went wrong. What caused the Silicon Valley Bank crash? She made it clear that it started with politicians being “bought.”
“This comes from a failure to appropriately regulate big banks,” Porter said. “And we had, after Dodd-Frank, appropriate regulations in place for exactly this size of bank. And lo and behold, no more, the Dodd-Frank passed. Then people started coming around to politicians’ offices, offering them corporate PAC checks and lobbying them to repeal those regulations. And we had Democrats and Republicans join in 2018 to repeal the very capital-holding requirements that create a cushion for this exact size of bank.”
Porter proceeded to castigate some of her colleagues.
“So for me to hear colleagues later when this was happening this week and say this was unbelievable and how could this happen was frustrating, to say the least,” Porter said. “This is what happens when we have politicians who cater to Wall Street instead of working families.”
She did not blink.
