What happened to the end of bailouts Joe?

[iluvatar5150]

...plus one small detail: the POTUS does not set interest rates.

…and Jerome Powell was first appointed by Trump…

 

[hislegacy]

Why is it so hard for his fans to accept that as the case?

LOL - because everything that goes wrong under Biden's watch is Trumps fault in some eyes. The same mouths that say Trump had the reading level of a 3rd grader - who never read anything - who was completely inept and crooked - who was ineffective and useless: say out of the other side of their mouth that Biden's failures two year into his presidency are because of Trump.

Was Trump really that effective and powerful that the current President is rendered feckless?

 

[iluvatar5150]

LOL - because everything that goes wrong under Biden's watch is Trumps fault in some eyes. The same mouths that say Trump had the reading level of a 3rd grader - who never read anything - who was completely inept and crooked - who was ineffective and useless: say out of the other side of their mouth that Biden's failures two year into his presidency are because of Trump.

Was Trump really that effective and powerful that the current President is rendered feckless?

You don't have to be "effective and powerful" to break a lot of things. After all, the bull in the china shop isn't aiming at specific pieces of porcelain. He's just being a bull.

Have you tried at all to really understand what happened at the bank? Or are you just going with whatever half-cocked op-eds you find that point the finger at Biden?

Maybe... just maybe... This isn't really the fault of a particular party. Maybe the people at the bank screwed up and then maybe some of their VC Bro customers panicked and made the bank's screwup a lot worse than it had to be.

 

[Arcangl86]

Am I the only person who suspects that if the opposite happened and the FDIC allowed over the over $100 B in uninsured assets to be wiped out that people would be screaming about that too?

 

[Arcangl86]

Maybe... just maybe... This isn't really the fault of a particular party. Maybe the people at the bank screwed up and then maybe some of their VC Bro customers panicked and made the bank's screwup a lot worse than it had to be.

I really wonder what would have happened if Thiel didn't pull all his assets out and encourage all his clients to do likewise.

 

[hislegacy]

Have you tried at all to really understand what happened at the bank?

Yup, I have:

Too ‘woke’ to fail: Silicon Valley Bank had a special kind of insurance

Analysis by WorldTribune Staff, March 14, 2023 In the wake of the collapse of Silicon Valley Bank (SVB), financial analysts slammed Team Biden for pushing banks to consider LGBTQ+ and global warmin…

www.worldtribune.com

In the wake of the collapse of Silicon Valley Bank (SVB), financial analysts slammed Team Biden for pushing banks to consider LGBTQ+ and global warming over shareholder returns.​

​

Mark T. Williams, a former bank examiner for the Federal Reserve, told Fortune that SVB’s failure had much to do with risk management, or lack thereof.​

​

“The CFO and, I would argue, the board failed to adequately protect shareholder value,” Williams said. “The board-appointed risk management committee, which works closely with the CFO, should have done adequate scenario analysis to examine the deposit withdrawal risk. That, in fact, was the bank’s downfall.”​

​

Team Biden was quick to swoop in and rescue customers of SVB, which caters to the leftist techno-class and had as one of its leaders in risk management, as the New York Post reported, who “spent considerable time spearheading multiple ‘woke’ LGBTQ+ programs, including a ‘safe space’ for coming-out stories.”​

​

NBC News referred to the bank as the Democrats ATM

NBC News Analyst: SVB was the Democrat's ATM

Command Center is a social network

patriotcommandcenter.org

Maria Teresa Kumar: Silicon Valley Bank is the “Democrats’ ATM” (on Meet The Press)​

***Link shows video of NBC stating it - ****

​

​

 

[iluvatar5150]

Yup, I have:

Too ‘woke’ to fail: Silicon Valley Bank had a special kind of insurance

Analysis by WorldTribune Staff, March 14, 2023 In the wake of the collapse of Silicon Valley Bank (SVB), financial analysts slammed Team Biden for pushing banks to consider LGBTQ+ and global warmin…

www.worldtribune.com

In the wake of the collapse of Silicon Valley Bank (SVB), financial analysts slammed Team Biden for pushing banks to consider LGBTQ+ and global warming over shareholder returns.​

​

Mark T. Williams, a former bank examiner for the Federal Reserve, told Fortune that SVB’s failure had much to do with risk management, or lack thereof.​

​

“The CFO and, I would argue, the board failed to adequately protect shareholder value,” Williams said. “The board-appointed risk management committee, which works closely with the CFO, should have done adequate scenario analysis to examine the deposit withdrawal risk. That, in fact, was the bank’s downfall.”​

​

Team Biden was quick to swoop in and rescue customers of SVB, which caters to the leftist techno-class and had as one of its leaders in risk management, as the New York Post reported, who “spent considerable time spearheading multiple ‘woke’ LGBTQ+ programs, including a ‘safe space’ for coming-out stories.”​

​

NBC News referred to the bank as the Democrats ATM

NBC News Analyst: SVB was the Democrat's ATM

Command Center is a social network

patriotcommandcenter.org

Maria Teresa Kumar: Silicon Valley Bank is the “Democrats’ ATM” (on Meet The Press)​

***Link shows video of NBC stating it - ****

​

​

No, you haven’t really tried. The only quote in either of those pieces regarding the cause of the failure was this:

Mark T. Williams, a former bank examiner for the Federal Reserve, told Fortune that SVB’s failure had much to do with risk management, or lack thereof.

“The CFO and, I would argue, the board failed to adequately protect shareholder value,” Williams said. “The board-appointed risk management committee, which works closely with the CFO, should have done adequate scenario analysis to examine the deposit withdrawal risk. That, in fact, was the bank’s downfall.”

…and that quote doesn’t say anything about wokeness. All the “woke” talk was on the subject of Biden’s motivations for bailing them out, which is a different matter.

More broadly, can you really not tell the difference between insightful, informed analysis and low-quality op-eds? Forget the subject or the partisan slant, that World Tribune piece is just bad. It’s mostly a pile of loose innuendos that wouldn’t have passed in a high school english class.

 

[essentialsaltes]

“The board-appointed risk management committee, which works closely with the CFO, should have done adequate scenario analysis to examine the deposit withdrawal risk. That, in fact, was the bank’s downfall.”

The 'scenario analysis' is the 'stress tests' that Trump's weakening of Dodd-Frank exempted this bank from having to do. That, in fact, was the bank's downfall.

 

[Say it aint so]

LOL - because everything that goes wrong under Biden's watch is Trumps fault in some eyes. The same mouths that say Trump had the reading level of a 3rd grader - who never read anything - who was completely inept and crooked - who was ineffective and useless: say out of the other side of their mouth that Biden's failures two year into his presidency are because of Trump.

Was Trump really that effective and powerful that the current President is rendered feckless?

Trump is a con man propagandist, and not a policy wonk. And yes, everything had to be dumbed down for him. He could careless how negatively a policy may impact people or the safety of people as long as it's a win for him politically, which for him is personally.

 

[hislegacy]

More broadly, can you really not tell the difference between insightful, informed analysis and low-quality op-eds? Forget the subject or the partisan slant, that World Tribune piece is just bad. It’s mostly a pile of loose innuendos that wouldn’t have passed in a high school english class.

They cited NBC News - and then posted the video.

Wanna try again?

 

[hislegacy]

So let's recap:

SVB - Known among Democrats as an ATM (NBC News) - funded by mega donors to Democrat politicians .

Silicon Valley Bank chief pressed Congress to weaken risk regulations

CEO Greg Becker personally led the bank’s half-million-dollar push to reduce scrutiny of his institution – and lawmakers obliged

www.theguardian.com

Eight years before the second-largest bank failure in American history occurred this week, the bank’s president personally pressed Congress to reduce scrutiny of his financial institution, citing the “low risk profile of our activities and business model”, according to federal records reviewed by the Lever. Three years later – after the bank spent more than $500,000 on federal lobbying – lawmakers obliged.​

​

The Bank's President spent eight years and $500,000,000 lobbying for reduced scrutiny and got it.

In 2015 Greg Becker, SVB’s president, submitted a statement to a Senate panel pushing legislators to exempt more banks – including his own – from new regulations passed in the wake of the 2008 financial crisis. Despite warnings from some senators, Becker’s lobbying effort was ultimately successful.​

​

Two months later, SVB added the former Obama treasury department official Mary Miller to its board, noting she had previously helped oversee “financial regulatory reforms”. Around that time, federal disclosure records show the bank was lobbying lawmakers on “financial regulatory reform” and the Systemic Risk Designation Improvement Act of 2015 – a bill that was the precursor to legislation ultimately signed by Donald Trump that increased the regulatory threshold for stronger stress tests to $250bn.

And this is all Trumps fault - wow!

 

[iluvatar5150]

They cited NBC News - and then posted the video.

Wanna try again?

1.) That was an analyst on NBC News (or MSNBC, I’m not sure which), not “NBC News”

2.) If you’d listened to what she was saying (which would have been easier if you’d found a better, higher quality source that didn’t cut out so much of it), you would have noticed that she was talking about the response to the bailout, not the cause of the failure.

Seriously, none of us should have to hold your hand through this stuff. If I’m having to explain your own sources to you, you aren’t trying very hard.

 

[hislegacy]

1.) That was an analyst on NBC News (or MSNBC, I’m not sure which), not “NBC News”

2.) If you’d listened to what she was saying (which would have been easier if you’d found a better, higher quality source that didn’t cut out so much of it), you would have noticed that she was talking about the response to the bailout, not the cause of the failure.

Seriously, none of us should have to hold your hand through this stuff. If I’m having to explain your own sources to you, you aren’t trying very hard.

Post #31

Me thinks thou doest protest too loudly

 

[iluvatar5150]

So let's recap:

SVB - Known among Democrats as an ATM (NBC News) - funded by mega donors to Democrat politicians .

Silicon Valley Bank chief pressed Congress to weaken risk regulations

CEO Greg Becker personally led the bank’s half-million-dollar push to reduce scrutiny of his institution – and lawmakers obliged

www.theguardian.com

Eight years before the second-largest bank failure in American history occurred this week, the bank’s president personally pressed Congress to reduce scrutiny of his financial institution, citing the “low risk profile of our activities and business model”, according to federal records reviewed by the Lever. Three years later – after the bank spent more than $500,000 on federal lobbying – lawmakers obliged.​

​

The Bank's President spent eight years and $500,000,000 lobbying for reduced scrutiny and got it.

In 2015 Greg Becker, SVB’s president, submitted a statement to a Senate panel pushing legislators to exempt more banks – including his own – from new regulations passed in the wake of the 2008 financial crisis. Despite warnings from some senators, Becker’s lobbying effort was ultimately successful.​

​

Two months later, SVB added the former Obama treasury department official Mary Miller to its board, noting she had previously helped oversee “financial regulatory reforms”. Around that time, federal disclosure records show the bank was lobbying lawmakers on “financial regulatory reform” and the Systemic Risk Designation Improvement Act of 2015 – a bill that was the precursor to legislation ultimately signed by Donald Trump that increased the regulatory threshold for stronger stress tests to $250bn.

And this is all Trumps fault - wow!

Well, it sure as heck wasn’t Biden’s fault. When that legislation passed, Trump was president and Republicans controlled both houses of congress. It was sponsored by a Republican:

https://www.congress.gov/bill/115th-congress/senate-bill/2155/text?ref=the-lever

and the votes fell mostly along party lines:

https://www.congress.gov/bill/115th-congress/senate-bill/2155/all-actions?overview=closed&q=%7B%22roll-call-vote%22%3A%22all%22%7D

 

[hislegacy]

Well, it sure as heck wasn’t Biden’s fault. When that legislation passed, Trump was president and Republicans controlled both houses of congress. It was sponsored by a Republican:

https://www.congress.gov/bill/115th-congress/senate-bill/2155/text?ref=the-lever

and the votes fell mostly along party lines:

https://www.congress.gov/bill/115th-congress/senate-bill/2155/all-actions?overview=closed&q=%7B%22roll-call-vote%22%3A%22all%22%7D

Who spent $500,000,000 and eight year lobbying to get it changed?

That person is the one to blame. Why? Because he was also the President of the Bank.

Biden is the one who is using your money and mine to pay back the losses of Democratic mega donors. That is Biden's decision, and lies squarely on his shoulders.

 

[Blade]

You did notice you never use that word "TRUMP" yet others just have to bring it up and blame him. So all this is mute since its just way as I see it to dodge the question or the OP's post. To know exactly what was done.. yeah Trump would not be talked about. Just seems most don't know about it.

Theres a reason Biden never answered any questionings but kinda blamed Trump. Something he will not explain because haha not president Trumps fault. What is still happening has nothing what so ever to do with Trump. By something low.. tax go up.. what you had no one will buy it on and on and on.

 

[wing2000]

They cited NBC News - and then posted the video.

Wanna try again?

Maybe you shoud try again without all the blatant and obvious political spin?

Mark T. Williams, a former bank examiner for the Federal Reserve, told Fortune that SVB’s failure had much to do with risk management, or lack thereof.
“The CFO and, I would argue, the board failed to adequately protect shareholder value,” Williams said. “The board-appointed risk management committee, which works closely with the CFO, should have done adequate scenario analysis to examine the deposit withdrawal risk. That, in fact, was the bank’s downfall.”


That has nothing to do with the political affiliation of the bank customers.

Peforming effective risk analysis applies to all banks...

 

[wing2000]

The buck stops with the CEO....

The tale of Silicon Valley Bank is one of ambition and management mistakes, of a chief executive who talked so much about innovation and the future that he and his lieutenants didn’t pay enough attention to the mundane but enormously important work of managing risk and ensuring financial prudence. When the bank was caught flat-footed in a rapidly changing economic environment, it waited till the last minute to try to avert its fate.

“This isn’t greed, necessarily, at the bank level,” said Danny Moses, an investor at Moses Ventures known for his role in predicting the 2008 financial crisis in the book and movie “The Big Short.”

“It’s just bad risk management,” Mr. Moses added. “It was complete and utter bad risk management on the part of SVB.”

Inside the Collapse of Silicon Valley Bank

While its leader extolled innovation and the future of tech, the bank paid less attention to risk management and was caught flat-footed by economic change.

www.nytimes.com

 

[NxNW]

If I were the head of a factory that had a problem with people getting drunk on the job and hurting themselves, and I corrected that issue by having mandatory breathalyzers before entering the shop floor and proclaimed "this is the end of alcohol related injuries in the factory" (and it was working). It wouldn't really be my fault if I retired and my successor came in, removed my rule, and instituted "Five Beer Fridays".

Why only five?

 

[iluvatar5150]

You did notice you never use that word "TRUMP" yet others just have to bring it up and blame him. So all this is mute since its just way as I see it to dodge the question or the OP's post. To know exactly what was done.. yeah Trump would not be talked about. Just seems most don't know about it.

Theres a reason Biden never answered any questionings but kinda blamed Trump. Something he will not explain because haha not president Trumps fault. What is still happening has nothing what so ever to do with Trump. By something low.. tax go up.. what you had no one will buy it on and on and on.

Yes, the OP and his sources conveniently left out Trump’s name because mentioning him and his contribution would undermine their disingenuous narrative.