The collapse of Silicon Valley Bank and Signature Bank are the largest bank failures since the 2008 financial crisis, which prompted lawmakers to pass legislation to increase regulations on banks and other financial institutions. But during the Trump administration, a number of Democrats joined Republicans in Congress to weaken laws including Dodd-Frank, the landmark regulatory reform passed in the wake of the crisis. Executives from Silicon Valley Bank and Signature Bank were among those who successfully lobbied to weaken rules that may have prevented their collapse. The fallout from the bank failures now threatens to spread to other financial institutions, and the Biden administration has taken extraordinary steps to guarantee all deposits in the two failed banks and to shore up the rest of the sector in what many are criticizing as a bailout of rich bank customers. For more, we speak with _The Lever_'s David Sirota and banking law professor Mehrsa Baradaran, whom progressive groups at one point backed as the Biden administration's pick for comptroller of the currency, an influential regulator of banks.
Tags:
Comment
Best guide to hip hop, soul, reggae concerts & events in San Francisco Bay Area, Los Angeles & New York City + music, videos, radio and more
All-4-One
Saturday, Mar 9 @ Yoshi's, Oakland
Loose Ends
Friday-Saturday, Mar 22-23 @ Yoshi's, Oakland
Ledisi
Sunday, Apr 14 @ Fox Theater, Oakland
Steel Pulse
Thursday, Apr 18 @ UC Theatre, Berkeley
10 members
49 members
19 members
46 members
© 2024 Created by Ren the Vinyl Archaeologist. Powered by
You need to be a member of True Skool Network to add comments!
Join True Skool Network