Michael Ramirez for March 17, 2023

Um, actually it was deregulation by the Repubs that caused this problem.

I highly recommend finding a good credit union and getting away from the banks entirely.

It probably didn’t help that Trump and the GOP, with help from some Democrats, weakened it in 2018. That action made it easier for lower tier banks, like SVB, to make riskier investments. As SVB grew from a lower tier bank (~$30 billion in assets) to a higher tier bank (>$200 billion in assets), became more critical. The crime was that SVB’s management was simply bad. They used long term investment strategy as a long-term one and it failed. Stupidity and greed allowed by the 2018 revision of Dodd-Frank caused SVB. Thank Trump and the GOP for this debacle.

Thank Biden for protecting the depositors.

“I am afraid that the ordinary citizenwill not like to be told that the bankscan and do create and destroy money.And they who control the credit of a nationdirect the policy of governments, andhold in the hollow of their handsthe destiny of the people.”— Reginald McKenna(1863-1943) British Secretary to the Treasury (1903), President of the Board of Education (1907–08) First Lord of the Admiralty (1908–1911), Home Secretary (1911–1915) and Chancellor of the Exchequer (1915–1916), and Chairman of the Midland Bank (1918)Source: speaking in 1924

My God, Michael must only watch Fox.

Now you’re just being deliberately obtuse, Mr. Ramirez. Of course, there haven’t been many, if any, positive Republican accomplishments since 2016 so the well’s prwtty dry for creative ideas for you.

Bend ’em Over Barney has shafted the American people, yet again. Frank sits on the board of Signature Bank. He lobbied Congress hard for those changes in the Dodd-Frank Act during the previous administration. Congress caved to Barney and the others in the banking lobby. The ironic part is that you know Barney would have railed against it if he had still been in Congress.

His slimey fingerprints are all over the Great Recession. The biggest root cause and the cause that was teh genesis of everything that happened in 2008 was Barney’s doing. He was the leader who pushed for forcing Fannie and Freddie to take on an increased percentage of sub-prime mortgages, against the objections of both. Then he pushed for another increase of these garbage loans. Hardly anyone in the swamp other than a few congress critters pushed back, but they were in a tiny minority. Barney got his way. Twice. We know what happened when Freddie and Fannie were mandated to buy millions of sub-prime loans. Banks and mortgage companies were happy to write more mortgages to unqualified buyers because they wouldn’t be keeping them in their portfolio – they were selling them on to Fannie and Freddie. I think you all know what happened next.

Heaven forbid the republicans take any responsibility for financial troubles.. this bank thing has to be Joe’s fault and all the democrats that came before him.

Never let a bad regulation go to waste.

Dodd-Frank worked just fine up until the Trump Administration decided that “regional” banks weren’t big enough to count and deregulated them.

Don’t deflect. It was the Republicans who did it.

Ramirez has his head up his butt as usual.

Upsidedownism.

What is the big “W” on the door for, something from the Oscars?

Stop blaming Trump!!! The fault lies with the Bank Regulators in California and the senior leadership of the bank for greed over sound banking principles!!!