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SENATOR BERNIE SANDERS United States Senator for Vermont BERNIE SANDERS AVT NEWS: Sanders Statement on Silicon Valley Bank BURLINGTON, Vt., March 12 - Sen. Bernie Sanders (I-Vt.) on Sunday issued the following statement on Silicon Valley Bank: "Let's be clear. The failure of Silicon Valley Bank is a direct result of an absurd 2018 bank deregulation bill signed by Donald Trump that I strongly opposed. Five years ago, the Republican Director of the Congressional Budget Office released a report finding that this legislation would increase the likelihood that a large financial firm with assets of between $100 billion and $250 billion would fail.' "Unfortunately, that is precisely what happened. During the debate over the legislation I said: 'Are our memories so short that we learned nothing from the 2008 Wall Street crash? Have we learned nothing from the Savings and Loan disaster of the early 1990s or the thievery of Wells Fargo over the last couple of years or the dishonesty of Equifax or the accounting fraud at Enron and Arthur Anderson or the failure of Long-Term Capital Management or the billions of dollars in fines that financial institution after financial institution has paid out for illegal or deceptive activities?' Sadly, the Republican Congress and the Trump Administration answered all of these questions with a resounding NO. "Now is not the time for U.S. taxpayers to bail out Silicon Valley Bank. If there is a bailout of Silicon Valley Bank, it must be 100 percent financed by Wall Street and large financial institutions. We cannot continue down the road of more socialism for the rich and rugged individualism for everyone else. Let us have the courage to stand up to Wall Street, repeal the disastrous 2018 bank deregulation law, break up too big to fail banks and address the needs of working families, not the risky bets of vulture capitalists."

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Sanders Statement


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Origin Entry: Silicon Valley Bank Collapse / SVB Failure

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= The New York Times No, 'Wokeness' Did Not Cause Silicon Valley Bank's Collapse Blaming workplace diversity or environmentally and socially conscious investments for the firm's downfall signals a "complete lack of understanding of how banks work," one expert said. Daily Mail News .com REVEALED: Only ONE member of failed SVB's board had a career in investment banking - and the rest were Obama, Clinton mega-donors who 'grieved' when Trump won including one who went to Shinto shrine 'to pray' By Melissa Koenig For Dailymail.Com 13:02 EDT 14 Mar 2023, updated 13:45 EDT 14 Mar 2023 PRAYED AT SHINTO SHRINE ADVERTISEMENT REAL BANKER IMPROV ACTOR 10+5 View gallery
imgflip.com X Break up the Too Big To Fail banks Give even more special protections to the Too Big To Fail banks and force everyone into them
VENTURE CAPITALISTS 20 LEGITIMATE CRITICISM IS THIS THE RWANDAN GENOCIDE?
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Uploaded Mar 12, 2023 at 07:00PM EDT

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Silicon Valley Bank Collapse / SVB Failure

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@SenSanders

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svb collapse, bernie sanders

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