Biden blames Trump deregulation for Silicon
Valley Bank failure
Los Angeles Times,
by
Courtney Subramanian
Original Article
Posted By: NorthernDog,
3/13/2023 10:49:43 AM
President Biden on Monday blamed the collapse of Silicon Valley Bank and closure of Signature Bank on former President Trump's 2018 decision to scrap some Obama-era banking regulations. "Unfortunately, the last administration rolled back regulations," Biden said. Biden also offered assurances that the U.S. banking system is "safe and secure." "Americans can have confidence that the banking system is safe," Biden said in remarks at the White House before leaving for a three-day visit to California and Nevada. The president said he planned to ask Congress and bank regulators to restore Obama-era rules that were put in place to prevent
Reply 1 - Posted by:
JonR 3/13/2023 10:55:05 AM (No. 1423987)
Biden has always been a pathological liar! Electing this old, corrupt fool is the biggest mistake that this country has ever made!
69 people like this.
Reply 2 - Posted by:
bighambone 3/13/2023 10:56:19 AM (No. 1423989)
It’s probably the fault of the “woke” bank management who did not take into consideration that Biden and his crew would destabilize the US economy.
46 people like this.
Reply 3 - Posted by:
GoodDeal 3/13/2023 11:00:05 AM (No. 1423992)
But what about those high interest rates? That bank was woke. They promoted wokeism. Diversity equity equality The whole 9 yards. No pity here.
52 people like this.
Reply 4 - Posted by:
jntsrgn 3/13/2023 11:16:55 AM (No. 1424006)
Exactly which deregulation acts caused this? Please be specific.
49 people like this.
Reply 5 - Posted by:
Quigley 3/13/2023 11:19:19 AM (No. 1424009)
Bidet has two talents: denying responsibility and knowing who pays him and following their simple instructions.
Precisely, #4.
42 people like this.
Reply 6 - Posted by:
planetgeo 3/13/2023 11:19:39 AM (No. 1424010)
Hey, Joe, how about bringing back the $500 BILLION you gave away to Ukraine? That would be a good start.
44 people like this.
Reply 7 - Posted by:
LC Chihuahua 3/13/2023 11:19:53 AM (No. 1424011)
Of course, he does.
It's a broken record.
Obama blamed Bush.
Clinton blamed Reagan.
Carter blamed Nixon and Ford.
And so on and so on.
Incompetents point fingers rather than fix problems.
The motto of incompetents everywhere: It's not my fault!
Who created the governing policies that lead us to a 90 trillion total US debt? How much of that debt will never be paid back? It's been going on for decades. Corrupt politicians being bought by criminals. Both parties.
Don't blame Trump for this. It happened on Biden's watch. Problem is Biden only watches cartoons. Biden isn't in charge of anything.
28 people like this.
Reply 8 - Posted by:
EJKrausJr 3/13/2023 11:20:36 AM (No. 1424012)
Joey Baby Hoover accepts no blame, despite being in charge for two + years. Did you expect anything else from JBH? I didn't. The SHTF conditions in the financial sector are his and Yellen's responsibilities, no one else.
13 people like this.
Reply 9 - Posted by:
Scribelus 3/13/2023 11:21:06 AM (No. 1424014)
Ol’ Reliable is UAU - unbelievable as usual.
8 people like this.
Reply 10 - Posted by:
WhamDBambam 3/13/2023 11:26:06 AM (No. 1424017)
Casting blame is the first move of the incompetent.
23 people like this.
Reply 11 - Posted by:
Quigley 3/13/2023 11:35:35 AM (No. 1424029)
Judging by the trading halts in the banking industry this morning it appears there is a panic forming.
But don’t worry! There’s a dementia patient in charge!! And he’s going to put a brain dead senator in the banking committee !!
Go back to sleep!!!!
12 people like this.
Reply 12 - Posted by:
mean Gene 3/13/2023 11:36:37 AM (No. 1424031)
So lacking a risk assessment manager for the last year didn't impact the quality of those who they lent to.....by a lot?!
I bet it did.
Lend to people who intend to default and this is the result.
8 people like this.
Reply 13 - Posted by:
Digiconver 3/13/2023 12:03:41 PM (No. 1424046)
Of course! The buck always stops with Trump with this birdbrain.
11 people like this.
Reply 14 - Posted by:
stablemoney 3/13/2023 12:18:01 PM (No. 1424057)
Biden, you liar, Trump did not roll back any bank regulations. In fact, capital requirements and more stringent testing regulations were implemented. It is noticeable that SVB did not follow the regulations on the books, as Democrats don't, and the Democrat enforcement agencies did not cite them for it.
22 people like this.
Reply 15 - Posted by:
Dreadnought 3/13/2023 12:24:48 PM (No. 1424059)
It's not incompetence or age, it's a very focused political calculus aimed at a broad suburban voting block. That block knows Trump didn't cause the problem but it triggers other associations. The Democrats firmly believe this calculus worked spectacularly in the 2022 midterms. It's why it was most recently used in East Palestine.
6 people like this.
Reply 16 - Posted by:
Blue Hen1 3/13/2023 12:42:51 PM (No. 1424068)
Has he blamed Hunter on Trump yet?
8 people like this.
Reply 17 - Posted by:
RayLRiv 3/13/2023 1:09:06 PM (No. 1424078)
He's such a tool
6 people like this.
Reply 18 - Posted by:
ncva 3/13/2023 1:24:43 PM (No. 1424084)
You had two years to undo Trump’s policies. At some point, you have to take responsibility. No joke!
8 people like this.
Reply 19 - Posted by:
felixcat 3/13/2023 1:37:51 PM (No. 1424091)
Joe: You've been in over just over two years. Why didn't you have your Congress change the regulations a year or two ago?
4 people like this.
Reply 20 - Posted by:
robertthomason 3/13/2023 1:47:39 PM (No. 1424103)
And prosperity is just around the corner.
2 people like this.
Reply 21 - Posted by:
SALady 3/13/2023 1:55:15 PM (No. 1424108)
Harry Truman: The buck stops here!!!!!
Lyin' Joe bidet: It's ____________'s fault!!!!!!
That is pretty much everything you need to know!!!
2 people like this.
Reply 22 - Posted by:
janjan 3/13/2023 3:21:39 PM (No. 1424166)
It took them longer than usual to find a way to blame Trump. Our country is on fire and the Biden Administration are the arsonists.
6 people like this.
Reply 23 - Posted by:
mifla 3/13/2023 3:41:14 PM (No. 1424176)
Isn't it amazing that everything this administration screws is someone else's fault?
It reminds me of the Clinton years.
5 people like this.
Reply 24 - Posted by:
formerNYer 3/13/2023 3:48:54 PM (No. 1424182)
Well, why didn't you reenact the regulations, you had 2 years to do it?
3 people like this.
Reply 25 - Posted by:
john56 3/13/2023 4:23:03 PM (No. 1424194)
You mean like he blamed Trump for the train wreck because he deregulated something about railroads that had nothing to do with the derailment.
Sounds like SVB was a Democrat front operation like the Crypto-Currency freak who gave the Dems $30 million before they found out he was a fraud, too.
6 people like this.
Reply 26 - Posted by:
red1066 3/13/2023 6:00:11 PM (No. 1424238)
Oh, come on! Only the braindead believe anything Biteme says.
1 person likes this.
Reply 27 - Posted by:
24tea@Mag 3/13/2023 6:32:27 PM (No. 1424255)
Joe - another whopper - liberal lie! You’re so stupid you don’t know what the truth is - it’s you not DJT. Get real.
0 people like this.
Reply 28 - Posted by:
smokincol 3/13/2023 6:33:34 PM (No. 1424256)
this blithering idiot has serious problems with "the truth" in any form but mostly when he says anything about the real and true President
0 people like this.
Reply 29 - Posted by:
Italiano 3/13/2023 7:52:42 PM (No. 1424283)
First President I've ever hated.
No apologies. No guilt. Hatred..
0 people like this.
Reply 30 - Posted by:
ADNova 3/13/2023 8:48:26 PM (No. 1424311)
Where there’s smoke there’s Barney Frank.
0 people like this.
Reply 31 - Posted by:
MickTurn 3/13/2023 8:50:08 PM (No. 1424313)
Look in the mirror Joey, there is your Criminal!
1 person likes this.
Reply 32 - Posted by:
NeonVortex 3/13/2023 9:43:24 PM (No. 1424338)
It's always Trump's fault.
1 person likes this.
Reply 33 - Posted by:
rytwng 3/13/2023 10:03:36 PM (No. 1424346)
The fake president still has sophomore high school way of talking.
0 people like this.
Reply 34 - Posted by:
doctorfixit 3/14/2023 12:25:34 AM (No. 1424400)
Banks are supposed to fail when they are criminally mismanaged. Liberal No-Consequences policies are lethal to civilization.
1 person likes this.
Reply 35 - Posted by:
RWPollock 3/14/2023 2:09:43 AM (No. 1424441)
Everyone I read says it was due to poor management.
1 person likes this.
Reply 36 - Posted by:
Old Army Vet 3/14/2023 10:07:44 AM (No. 1424671)
A complete and utter moron. The worst president in the history of this once great country.
0 people like this.
Reply 37 - Posted by:
DVC 3/14/2023 4:45:06 PM (No. 1425101)
More Biden Crime Family lies. Joe never, ever tells the truth about anything.
0 people like this.
Reply 38 - Posted by:
broken01 3/14/2023 9:31:28 PM (No. 1425338)
This is the democrat playbook. Clinton and his WH full of security risks blamed that doofus GHWB left and right. The Odiot blamed his son for everything that went wrong during his reign of error. Which was numerous. Now we have the dumbest person ever to sit in the Oval Office to date blaming his rank incompetence on his Republican predecessor. This will happen over and over again.
0 people like this.
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The Old Clown's first instinct is to blame Trump. It's rapidly rising interest rates, due to rampant inflation that's screwing up the economy. And it all started when FJB took office.