silicon valley bank, why was the press sort of out of it? well, are you sure they were out of it? howard: i m waiting for someone to say here s my story no one ever said, and are you telling me no one ever said we could be hit, we could be in a really serious financial problem with crypto trading off howard: no, i m not saying that.. i m talking about this one bank with all of these high-tech customers where martin says the securities holdings went up by 700%. but let me turn now to president biden s handling of it. there s a blame game out there. the current president saying former president trump agreed to a partial rollback of the dodd-frank law, passed after the 2008 financial crisis that you were a war correspondent in, and that contributed to the silicon valley mess because and i have to add, a few dozen congressional democrats voted for that as well. so suddenly if you had $250,000
What to Know About Trump-Era Bank Deregulation and Bank Failures
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and whether there s going to be a need for the fed to provide liquidity to dollar markets around the world. that s typically what happens when something morphs into an international problem, and that seems to be the news this morning. so again, i you have to watch this minute by minute to see how it evolves, but that s one thing they could be thinking about. the sad fact is we ve been here before. it s not to that degree at this point, but in 2008 you had similar concerns. dodd-frank law was passed after ward and it did a number of things including imposing stress tests on banks and increasing assets they had to hold and some of them rolled back in 2018 including raising the size of the bank that needs to abide by these regulations and you were in support of those relaxations in 2018. i wonder if you look at the situation now, was that a mistake and is that rollback
in terms of dodd frank being the reason the loosening of dodd frank for being the reason for svb going under, just consider this. even if you don t get a stress test as a systemically important bank, you re still getting the modest proctology exam by the federal reserve and in svb s case. i don t know what mr. claiborne is talking about. there were was tons of regulation. neil: by the way, this is a family show. thanks, charlie, following all of that. meantime here, there s renewed pressure on the federal reserve to maybe take a pass on a planned rate hike next week. but there s just as much pressure building right now for the fed not to do that because it would be alarming. the back and forth on this with one of my favorite professor,day dotson from the stanford school
republican-friendly bank? well, neil, let s look at how we got here. how we got here is because this same bank lobbied very almost viciously to get the law that they got we protected the banks. neil: they were rewarded for pushing that, right? no. they got what they asked for. they asked to be relieved from what democrats did. dodd frank. democrats put in place stress tests and other things to protect depositors from meeting this fate that this bank just met. they lobbied to remove
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