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/----/What's funny about your fake outrage is that Dementia Joe and the democRATs spent the first two years on a Jan 6 witchhunt. Reregulating banks wasn't even on their radar. That tells us, they didn't consider it an issue.Note that Republicans in comments are not talking about the law in question. They're just posting memes are typing "haha".
It's an admission that they know they screwed it all up.
WTF?What I think?
It's pretty fucking obvious.
Spell it out. Is 3% enough? 10%? How much is enough?
WTF?
Did the bank fail?
WTF?Would 3% have saved them? What about 10%?
WTF?
Do you need a special-ed remedial class?
A retard knows when something fails.
/----/ Here's a meme for ya< sparky.Note that Republicans in comments are not talking about the law in question. They're just posting memes are typing "haha".
It's an admission that they know they screwed it all up.
/----/ democRATs had two years to fix bank regulations, but all they cared about was the Jan 6 hoax.I want to share with you an article that explains how Trump's deregulation led to the collapse of Silicon Valley Bank, one of the largest banks in the country. The article is here: How Trump’s Deregulation Sowed The Seeds For Silicon Valley Bank’s Demise
The article says that Trump signed a law in 2018 that weakened the rules for banks that were put in place after the 2008 financial crisis. The law was called the Economic Growth, Regulatory Relief and Consumer Protection Act (S.2155), but it did not protect consumers at all. It allowed banks like Silicon Valley Bank to take more risks with their money and hide their problems from regulators.
The law was supported by most Republicans and a minority of Democrats who were fooled by the bank lobbyists. Most Democrats voted against it The Senate passed it by a vote of 67-31, with 16 Democrats voting for it. The House passed it by a vote of 258-159, with 225 Republicans and 33 Democrats voting for it. Trump signed it into law on May 24, 2018.
Now we are paying the price for this Trump law. Silicon Valley Bank failed because it gambled on risky loans and investments that went bad. It also lied about its financial health and hid its losses from regulators and investors. The bank's failure caused a lot of damage to the economy and hurt millions of customers, employees and shareholders. This is why we need to hold Trump and his allies accountable for their actions.
They sold us out to the big banks and put our economy at risk. We need to repeal this law and restore strong regulations for banks that protect consumers and prevent another crisis.
So how much are you getting paid to push Biden administration propaganda?Well, I fully admit that no one is as smart, educated or accurately-informed as an obedient Trumpster.
So you got me there.
Eight million a month.So how much are you getting paid to push Biden administration propaganda?
They want it allWould 3% have saved them? What about 10%?
You're way over paidEight million a month.
So you are cheering Veggie Joe bringing “the era of private profits” to an end.Your post makes no logical sense, but I consider the source. Your economic posts have never made sense. You know the lingo, but not the substance.
The SVB wasn't in the business of writing mortgages. They're in the business of financing tech start ups. Boutique banks which cater to one sector of the economy are vulnerable when there's an economic downturn in their sector. This bank made some bad decisions and handled everything badly after lobbying vociferously for deregulation.
I commend Biden for refusing to bail out the shareholders. The era a private profits and public losses are over.
So you are cheering Veggie Joe bringing “the era of private profits” to an end.
Spoken like a true Dimsocialist moron.
/----/What's funny about your fake outrage is that Dementia Joe and the democRATs spent the first two years on a Jan 6 witchhunt. Reregulating banks wasn't even on their radar. That tells us, they didn't consider it an issue.
Learn English, you Halfwit Canuck.You need reading comprehension lessons. I said the era of "private profits and PUBLIC L0SSES F0R SHAREH0LDERS is over". If the company goes broke, the shareholders lose, not the taxpayers.
What a lying piece of shit you are.
/——-/ True, democRATs created more havoc and damage than just the Jan 6 hoax, still nothing on banking regulations.I missed that completely. I saw them distributing vaccine, restoring NAT0, passing the American Rescue Package, the Infrastructure Bill, and the Inflation Reduction Act, while trying to pass voting rights and police reform, and dealing with the Ukrainian War.
Attempts to pass banking regulation were spurned by the Senate.
And that has what to do with this topic?Its a little more complex buddy. The poor dont have bank accounts to lose. They need support in other ways, healthcare, education, infrastructure. But those things are off limits to one of the parties but saving rich peoples savings are no problem for both parties.
Holy shit.Eight million a month.
