Obama tightened regulations on rail transit. Trump reversed many of them. And then we had train wrecks.
Obama tightened regulations on the financial sector with reforms that included Dodd-Frank and its Consumer Financial Protection Agency. Trump, while he still had majorities in both the Senate and House, rolled back much of them, including specifically regulations that would have included medium-sized banks such as Silicon Valley Bank and Signature Bank.
SVB did not fail because of “woke” policies (whatever that means, though “woke” is clearly preferable to its opposite, “comatose”). It failed because it was narrowly concentrated on a tech-focused clientèle instead of a broader or more diverse base, and too heavily concentrated its investments in the bond sector, oblivious to rising interest rates, instead of more diverse investments in a variety of stocks, bonds and real estate like most banks.
Signature did not fail because of “woke” policies but because of risky investments in crypto, right before that illusory chimera vanished into the digital ether.
Obama tightened regulations on rail transit. Trump reversed many of them. And then we had train wrecks.
Obama tightened regulations on the financial sector with reforms that included Dodd-Frank and its Consumer Financial Protection Agency. Trump, while he still had majorities in both the Senate and House, rolled back much of them, including specifically regulations that would have included medium-sized banks such as Silicon Valley Bank and Signature Bank.
SVB did not fail because of “woke” policies (whatever that means, though “woke” is clearly preferable to its opposite, “comatose”). It failed because it was narrowly concentrated on a tech-focused clientèle instead of a broader or more diverse base, and too heavily concentrated its investments in the bond sector, oblivious to rising interest rates, instead of more diverse investments in a variety of stocks, bonds and real estate like most banks.
Signature did not fail because of “woke” policies but because of risky investments in crypto, right before that illusory chimera vanished into the digital ether.