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[Giantone]

GOP senators pushed to keep banking rules loose one week before SVB collapse




https://www.yahoo.com/finance/news/g...152706948.html


The stunning events around Silicon Valley Bank of California and Signature Bank of New York come after years of moves in Washington to ease capital requirements on smaller and regional banks — including one that came just last week.

In a letter dated March 3 to Federal Reserve Chair Jerome Powell, Sen. Tim Scott (R-SC), the ranking member of the Senate Banking Committee, and nine of his GOP colleagues expressed concern that an ongoing Federal Reserve review may go beyond a 2018 law that eased regulations on smaller banks and “may unjustly increase capital requirements and have a chilling effect on market making activities and availability of financial services.”

The letter was timed to coincide with Powell’s testimony last week before Congress and referenced a 2022 speech from Michael Barr, the Fed’s vice chair for supervision, where he discussed the Fed taking a holistic review of capital standards.

The letter pushed back against ideas for increasing the buffer that banks are required to hold in reserve to guard against losses, arguing that banks “seem to have weathered the real-life stress test of the COVID-19 pandemic well.”

Within days, the banking sector saw the second- and third-largest bank failures in history.

[punch it in]

Nothing has changed in here. Chico refuses to believe that anything Obama did was reversed by Trump simply because Obama did it and there could certainly be no consequences for the pettiness. SD thinks that 2018 and WW1 are equally responsible for 2023. Lol.

[sdskinsfan2001]

Originally Posted by punch it in

Nothing has changed in here. Chico refuses to believe that anything Obama did was reversed by Trump simply because Obama did it and there could certainly be no consequences for the pettiness. SD thinks that 2018 and WW1 are equally responsible for 2023. Lol.

It's all connected:

[sdskinsfan2001]

Originally Posted by punch it in

Nothing has changed in here. Chico refuses to believe that anything Obama did was reversed by Trump simply because Obama did it and there could certainly be no consequences for the pettiness. SD thinks that 2018 and WW1 are equally responsible for 2023. Lol.

And from the underrated Out Cold movie:

[punch it in]

Originally Posted by sdskinsfan2001

And from the underrated Out Cold movie:

[Giantone]

Originally Posted by punch it in

Nothing has changed in here. Chico refuses to believe that anything Obama did was reversed by Trump simply because Obama did it and there could certainly be no consequences for the pettiness. SD thinks that 2018 and WW1 are equally responsible for 2023. Lol.

Sad thing is you think they're joking but sadly they are not.

[Chico23231]

Originally Posted by Giantone

Sad thing is you think they're joking but sadly they are not.

Sad!

https://people.com/politics/donald-t...d-sad-twitter/

Trump is a frequent user of the word "sad" to describe everything from election opponents to actual tragedies


G1 even talking like Trump these days

[sdskinsfan2001]

The No. 1 cause of the SVB Crash = SV Fucking Bank!

Every time something happens, it's a race to see who controls the narrative on if it's the republicans or democrats fault.

Fuck em' both anyways! Andrew Yang 2024!!

https://www.forwardparty.com/

Not left. Not right. FORWARD. #takecommand

[Chico23231]

Lawrence H. Summers

@LHSummers
SVB committed one of the most elementary errors in banking: borrowing money in the short term and investing in the long term. When interest rates went up, the assets lost their value and put the institution in a problematic situation

SVB was incompetent and then the way they communicated their crunch, equally dumb. But good to know their Risk executive was heavily focused on woke projects instead of doing her job.

Also, maybe the government should hold some of the accounting firms responsible…as well as their own regulators in San Fran?

KPMG, one of the “big four” accounting firms, gave Silicon Valley Bank a clean bill of health just two weeks before the collapse, and the same firm offered an all’s good evaluation for Signature Bank eleven days before it collapsed.

[punch it in]

Originally Posted by Chico23231

Lawrence H. Summers

@LHSummers
SVB committed one of the most elementary errors in banking: borrowing money in the short term and investing in the long term. When interest rates went up, the assets lost their value and put the institution in a problematic situation

SVB was incompetent and then the way they communicated their crunch, equally dumb. But good to know their Risk executive was heavily focused on woke projects instead of doing her job.

Also, maybe the government should hold some of the accounting firms responsible…as well as their own regulators in San Fran?

KPMG, one of the “big four” accounting firms, gave Silicon Valley Bank a clean bill of health just two weeks before the collapse, and the same firm offered an all’s good evaluation for Signature Bank eleven days before it collapsed.

Lol. Nobody said SVB isn’t to blame, but it isn’t that black and white.

Trumps deregulation is directly tied to this fiasco. You should read the rest of his tweets not just the one that seemingly ties into your Trump isn’t responsible for anything bad that happen narrative.

[Chico23231]

Originally Posted by punch it in

Lol. Nobody said SVB isn’t to blame, but it isn’t that black and white.

Trumps deregulation is directly tied to this fiasco. You should read the rest of his tweets not just the one that seemingly ties into your Trump isn’t responsible for anything bad that happen narrative.

Nope, Trump had nothing to do with this.Too much spending >Inflation > this administration refusal to address inflation > sharp rate hikes and this bank’s incompetence.

Signature failure was its incompetence and crypto leverage…different than SVB but interest rate induced.

Other regional banks stock down due to panicking, deposit transfer and maybe some exposure to SVB.

If this was regulatory induced, other peers would be in the same positions as SVB, but they are not. You can’t say Trump regulations only affected SVB…come on

[punch it in]

Originally Posted by Chico23231

Nope, Trump had nothing to do with this.Too much spending >Inflation > this administration refusal to address inflation > sharp rate hikes and this bank’s incompetence.

Signature failure was its incompetence and crypto leverage…different than SVB but interest rate induced.

Other regional banks stock down due to panicking, deposit transfer and maybe some exposure to SVB.

If this was regulatory induced, other peers would be in the same positions as SVB, but they are not. You can’t say Trump regulations only affected SVB…come on

Deregulation made it possible. Other banks acted responsibly.

[Giantone]

Originally Posted by punch it in

Deregulation made it possible. Other banks acted responsibly.

You're fighting a losing battle. Frick and frack won't listen.

[punch it in]

https://www.forbes.com/sites/mayraro...-banks-demise/


I like the history matters paragraph the best.

[Chico23231]

SVB didn’t have a Chief Risk Officer for 9 months, but had 3 DEI officers and one Climate Officer

So there’s that