On Monday’s broadcast of CBS’s “Red & Blue,” House Financial Services Committee member Maxine Waters (D-CA) said she didn’t draw any conclusions about whether a regulatory decline under the Trump administration caused the company’s downfall. Silicon Valley Bank (SVB), there is still work to be done on what steps to take in response to the crash, and noted that the bank has invested in a lot of startups.
Host Caitlin Huey-Burns asked, “Sen. Elizabeth Warren (D-MA) attributed this to rolling back regulations in 2018 under the Trump administration, would you agree?”
Waters replied, “Well, let me just say this: The decline has been upsetting for me and some of us who worked on the Dodd-Frank reforms. However, we have to take a look at what’s going on in our world today. For example, we have these startups. They are different from Where to seek support and loans.We have banks that do not deal with them directly because they do not understand some of this creativity.And it is not easy for startups to get loans, and what we saw was Silicon Valley Bank that was the first bank for these startups and they were able to Support them. A lot of people became successful. They created jobs. The bank was handling the payroll. We wanted to make sure that the people and employees in these startups got paid, and we did. And so, I think we’ll look at all of this. We’ll make some decisions. I’m not in any conclusions right now about what we’re going to do, what we’re not going to do. But I’m very focused and relieved that we’ve done extraordinary work in a short period of time and that we’re going to work to see if we redefine the risks, whether we need more stress tests, whether Whether or not we need to make sure is counted There is some kind of deregulation that could cause the bank to collapse.”
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