Morning Jolt: The Silicon Valley Bank Blame Game Intensifies

On the menu today: The partisan blame game for the collapse of Silicon Valley Bank and Signature Bank is in full swing. Politico offers a heroic narrative of President Biden saving Silicon Valley, while a 2018 partial rollback of the Dodd-Frank banking reforms is becoming a convenient scapegoat — never mind that Barney Frank himself supported loosening the rules for mid-sized banks such as SVB and Signature. One of the "big four" accounting firms gave both Silicon Valley Bank and Signature clean bills of health just two weeks ago. Also . . . weren't the states of California and New York, and the Federal Reserve, supposed to be on the lookout for banks taking unhealthy risks? Finally, it's hard not to notice that the federal government is changing the rules on FDIC protection of deposits on the fly in order to protect some of America's wealthiest venture capitalists — who, you know, are supposed to be good at evaluating financial risks.

Biden Didn't Save Silicon Valley

Man, when Biden administration sources choose to give the "tick-tock" — a story that focuses on the chronological order of events — to ...

WITH JIM GERAGHTY March 14 2023 WITH JIM GERAGHTY March 14 2023 The Silicon Valley Bank Blame Game Intensifies On the menu today: The partisan blame game for the collapse of Silicon Valley Bank and Signature Bank is in full swing. Politico offers a heroic narrative of President Biden saving Silicon Valley, while a 2018 partial rollback of the Dodd-Frank banking reforms is becoming a convenient scapegoat — never mind that Barney Frank himself supported loosening the rules for mid-sized banks such as SVB and Signature. One of the "big four" accounting firms gave both Silicon Valley Bank and Signature clean bills of health just two weeks ago. Also . . . weren't the states of California and New York, and the Federal Reserve, supposed to be on the lookout for banks taking unhealthy risks? Finally, it's hard not to notice that the federal government is changing the rules on FDIC protection of deposits on the fly in order to protect some of America's wealthiest venture capitalists — who, you know, are supposed to be good at evaluating financial risks. Biden Didn't Save Silicon Valley Man, when Biden administration sources choose to give the "tick-tock" — a story that focuses on the chronological order of events — to ...   READ MORE

ADVERTISEMENT Trending on National Review 1. Biden's Student-Debt-Relief Scheme Is an Insult to Veterans 2. The Solution to the Migrant Crisis Lies South of the Border 3. Strong Revenue and Fiscal Federalism Are Driving a State-Based Tax Revolution Top Stories The Editors Michigan Democrats Want to Bring Back Union Coercion A Democrat-led assault on the rights of Michiganders to choose their own affiliations and withhold their support ... Rich Lowry Shakespeare Is Not about Whiteness Shakespeare has long been dismissed, with others in the Western canon, as a dead white male. Now, there's another, ... NEWS DeSantis Says Support for Ukraine Not a 'Vital' U.S. Interest, Urges Focus on Domestic... DeSantis said F-16s and long-range missiles to Ukraine should be ‘off the table’ to avoid escalation ... NEWS Treasury to Provide House Oversight with Suspicious-Activity Reports for Biden Family,... Documents reveal that a Biden associate’s company received $3 million from a Chinese energy firm just two ... ADVERTISEMENT PODCASTS Episode 21: Uncle Louie's Latest... Episode 267: The Age of... PHOTOS Today in History: March 14 Defending America VIDEO Fauci Responds to Ex-CDC... FBI Director Says Covid... NRPLUS ARTICLES The Solution to the Migrant Crisis... 'They've Ignored Us': Female... ADVERTISEMENT ADVERTISEMENT Follow Us & Share 19 West 44th Street, Suite 1701, New York, NY, 10036, USA Your Preferences | Unsubscribe | Privacy View this e-mail in your browser.