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Test it didn t have to be subjected to the, you, know dodd-frank regulations on what it could d with customers money it didn t have the extra dodd-frank liquidity requirements to make sure they have enough cash on hand if th customers all came knocking on the door at the same time, which, they did. they did in palo alto, they di in santa clara, they did acros the country, in wellesley, massachusetts, they did all of the country and every town really had a branch. the type of stress that this bank was just subjected to i the type of stress they were supposed to be tested against, had they not lobbied hard fo themselves to be exempted from the new regulations that wer otherwise put in place after the last crash to stop thi from happening elizabeth warren was right whe she said what rolling back those regulations would do i 2018 while, now, today, that is com to pass, she says this in th york times she says, quote, no one should be mistaken about what unfolde ....
Shouldn t be subjected to the new regulations that his bank was no risk to anyone. and because of that change signed by president trump in 2018, in fact, silicon valley bank did not have to be subjected to the extra stress test it didn t have to be subjected to the, you know, dodd/frank regulations on what it could do with customers money it didn t have the extra dodd/frank liquidity requirements to make sure they d have enough cash on hand if their customers came knocking on the door at the same time, which tay did. they did in palo alto. they did in santa clara. they did across the country in wellesley, maz they did all over the country in every town where they had a bridge the type of stress this bank was subjected to was the type of stress they were supposed to be tested against had they not hobied harder for themselves to be exempted from the new regulations otherwise put in place after the last crash to stop this from happening ....
The federal government is stepping in to quell fears over a potential banking crisis. The Treasury Secretary now says customers of the failed Silicon Valley Ban. ....
If you re the average american saying, hold on a second, joe biden just guaranteed people who go to silicon valley bank, but what about me? i go to a local community bank are they definitely going to guarantee me the president hasn t said that if congress wants to change its mind and say fdic insurance is going to be unlimited, that s something entirely different what you re seeing is a lot of people saying, it s good the biden administration did that for them, i m not sure what it means for me you re seeing a lot of people continuing to pull their money out of smaller banks into the bigger banks that s not a good thing for the system, especially because they may not need to do it. let s look at an example of exactly what you re talking about. anna, this morning there was pictures out of wellesley, massachusetts. it shows people lined up outside the silicone valley bank branch trying to pull money out these pictures were taken right about the time the president was saying don t worry ....