Economist Dean Baker did not mince words as he explained the reason for the collapse of #SiliconValleyBank. Trump’s lax #regulations were the culprits.
Our banking system depends on a class of primarily men who, like children, cannot leave the cookie jar. They are frauds.
Let’s get something straight. It was a bailout. We, the American people, bailed out a lot of rich investors who had deposits in Silicon Valley Bank.
Katie Porter was visibly upset by the ignored warnings both she and Senator Elizabeth Warren gave during Trump and Republicans relaxing banking regulations.
Senator Elizabeth Warren all but said I told you so as she itemized and blamed Silicon Valley Bank’s failure on bribed politicians, lousy regulators, and greedy executives.
Stop the false narrative from protecting a financial sector that produces nothing as it enriches itself with faux products. It was a bailout. Big Pharma is playing a PR game with insulin. Don’t go for it.
Accounts at Silicon Valley Bank over $250,000 will be made whole. That is a bailout since the FDIC only insured them for $250,000.