President Biden on Monday blamed the collapse of Silicon Valley Bank and closure of Signature Bank on former President Trump’s 2018 decision to scrap some Obama-era banking regulations.Biden also offered assurances that the U.S. banking system is “safe and secure.”“Americans can have confidence that the banking system is safe,” Biden said in remarks at the White House before leaving for a three-day visit to California and Nevada.
The president said he planned to ask Congress and bank regulators to restore Obama-era rules that were put in place to prevent another global financial crisis. In 2018,
Pass the buck, always!
Come on, man. You can't come up with something better than the blame game? Getting a little old.
DoddFrank
KNOW WE KNOW FOR SURE BIDEN HAS DEMTIA !!!
Point it out .. funny how the statement this Biden FJB is a downright lie
It did not touch the area of assets required by banks to have enough cash in deposits and nothing was said about bitcoin which apparently was the issue with the bank failures. Biden said he was reinstating the Dodd- Frank Act so if you want to blame someone blame him. He’s guilty
TheatreofZen It’s not like he had Congress for two years
Yes, Trump and the Republicans got rid of it. Republican Presidents kept this country in a brink of financial collapse. Democartic Presidents keep saving this country. Go and check the U.S. Presidents History.
Of course… he will never take personal accountability. fjb LetsGoBrandon
Less than 3% of the depositors were under the $250K FDIC cap. These aren't mom and pop farmers living paycheck to paycheck.
If a bank, car manufacturer or the world's largest online marketplace are deemed too big to fail and would ever need taxpayer bailouts they should be broken up. Either we limit their growth or they are independent. No bank officer should walk away with a cent.
Yet he didn’t feel the need to address this over the past two years?
Banks and trains trumps administration was a disaster.
This guy blames Trump for everything. Watta loser.
BidenBankRun
Why didn’t he role this one back on day one , like 1000 of other trump policies?
Biden’s inflation is everyone else’s fault and the LA Times falls right in line.
Playing the blame game won't solve anything. Get to work, Sir.
If he’s talking about the repeal of the Dodd-Franks act he should see who co-signed it, Hillary’s running mate Tim Kaine
Biden also offered assurances that the U.S. banking system is “safe and secure.” “Americans can have confidence that the banking system is safe,” Biden said in remarks at the White House before leaving for a three-day visit to California and Nevada.
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