Democrats and Republicans both are furious with Silicon Valley Bank, and the SVB executives whose lax risk management sent the entire banking sector into turmoil.
, and the SVB executives whose lax risk management sent the entire banking sector into turmoil.Bipartisan agreement is refreshing. But don't expect it to accomplish much, beyond some cable-ready sound bites and finger-pointing during congressional hearings.. However, it doesn't apply to SVB in the same way it did in past business scandals like FTX.
Democrats have talked a lot about reinstating the $50 billion threshold for defining a "systemically important" bank, after it was pushed up to $250 billion in 2018 . But few Republicans seem to have much of an appetite for such a thing, particularly given that they pushed deregulation in the first place.SVB's failureRepublicans, therefore, seem content to blame most of this on Democratic fiscal policies, which they argue are causing the inflation that's driving Fed monetary policies. Except for the few who've decided that SVB was caught in a web of "wokeness.
Unfortunately, such stability could come at the cost of politicians developing creative solutions to stave off future banking crises.
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