The Most Fresh & Cordial Political Thread Ever

Nothing has changed in here. Chico refuses to believe that anything Obama did was reversed by Trump simply because Obama did it and there could certainly be no consequences for the pettiness. SD thinks that 2018 and WW1 are equally responsible for 2023. Lol.

Sad thing is you think they're joking but sadly they are not.

Sad thing is you think they're joking but sadly they are not.

Sad!

https://people.com/politics/donald-trump-things-called-sad-twitter/

Trump is a frequent user of the word "sad" to describe everything from election opponents to actual tragedies


G1 even talking like Trump these days

Lawrence H. Summers

@LHSummers
SVB committed one of the most elementary errors in banking: borrowing money in the short term and investing in the long term. When interest rates went up, the assets lost their value and put the institution in a problematic situation

SVB was incompetent and then the way they communicated their crunch, equally dumb. But good to know their Risk executive was heavily focused on woke projects instead of doing her job.

Also, maybe the government should hold some of the accounting firms responsible…as well as their own regulators in San Fran?

KPMG, one of the “big four” accounting firms, gave Silicon Valley Bank a clean bill of health just two weeks before the collapse, and the same firm offered an all’s good evaluation for Signature Bank eleven days before it collapsed.

Lawrence H. Summers

@LHSummers
SVB committed one of the most elementary errors in banking: borrowing money in the short term and investing in the long term. When interest rates went up, the assets lost their value and put the institution in a problematic situation

SVB was incompetent and then the way they communicated their crunch, equally dumb. But good to know their Risk executive was heavily focused on woke projects instead of doing her job.

Also, maybe the government should hold some of the accounting firms responsible…as well as their own regulators in San Fran?

KPMG, one of the “big four” accounting firms, gave Silicon Valley Bank a clean bill of health just two weeks before the collapse, and the same firm offered an all’s good evaluation for Signature Bank eleven days before it collapsed.


Lol. Nobody said SVB isn’t to blame, but it isn’t that black and white.

Trumps deregulation is directly tied to this fiasco. You should read the rest of his tweets not just the one that seemingly ties into your Trump isn’t responsible for anything bad that happen narrative.

And from the underrated Out Cold movie:

https://y.yarn.co/cc701fa1-6b4d-4b4d-a881-98666c8338c6_text.gif


https://media0.giphy.com/media/3jAQXZQXmAkoUVi6Rc/giphy.gif

https://www.forbes.com/sites/mayrarodriguezvalladares/2023/03/12/how-trumps-deregulation-sowed-the-seeds-for-silicon-valley-banks-demise/


I like the history matters paragraph the best.

Lol. Nobody said SVB isn’t to blame, but it isn’t that black and white.

Trumps deregulation is directly tied to this fiasco. You should read the rest of his tweets not just the one that seemingly ties into your Trump isn’t responsible for anything bad that happen narrative.

Nope, Trump had nothing to do with this.Too much spending >Inflation > this administration refusal to address inflation > sharp rate hikes and this bank’s incompetence.

Signature failure was its incompetence and crypto leverage…different than SVB but interest rate induced.

Other regional banks stock down due to panicking, deposit transfer and maybe some exposure to SVB.

If this was regulatory induced, other peers would be in the same positions as SVB, but they are not. You can’t say Trump regulations only affected SVB…come on

Nope, Trump had nothing to do with this.Too much spending >Inflation > this administration refusal to address inflation > sharp rate hikes and this bank’s incompetence.

Signature failure was its incompetence and crypto leverage…different than SVB but interest rate induced.

Other regional banks stock down due to panicking, deposit transfer and maybe some exposure to SVB.

If this was regulatory induced, other peers would be in the same positions as SVB, but they are not. You can’t say Trump regulations only affected SVB…come on


Deregulation made it possible. Other banks acted responsibly.

Deregulation made it possible. Other banks acted responsibly.

You're fighting a losing battle. Frick and frack won't listen.

You're fighting a losing battle. Frick and frack won't listen.

Of course Biden was free to pass Bank Regulations when he had the majorities in the house and senate at anytime