:"We really, really don't want depositors to start doubting their banks. The world has changed since 2008; the speed of a cascade could be very fast."In the wake of the 2007-08 financial crisis, Obama pushed through the Dodd-Frank Act to straighten out America's banking sector. In 2018, Trump enacted significant changes to liberate all but the largest banks from Obama's safeguards.
. The stress test, per the Fed,"assesses whether banks are sufficiently capitalized to absorb losses during stressful conditions" while continuing to go about their daily business. Nigel Green, the CEO of deVere Group, an independent financial advisor, said SVB's collapse had brought Trump-era deregulation into question."It appears that the deregulation has allowed banks like SVB to take reckless risks," he said."Now there needs to be a serious conversation about reversing the law to shore up confidence and to avoid further collapses.
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