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<blockquote data-quote="bacha29" data-source="post: 5540647" data-attributes="member: 58386"><p>Guys, it all comes back to having allowed greedy bankers to succeed in their effort to get Glass Steagall repealed and replaced with the mother of all greedy banking laws Gramm Leach Bliley. The legislation most widely blamed for the 2007/2008 financial crisis.</p><p></p><p>This debacle brought about the 2010 passage of Dodd Frank which restored many of the banking rules set forth under Glass Steagall.</p><p></p><p>In 2018 however Dodd Frank was weakened considerably with the passage of the Economic Growth, Regulatory Relief And Consumer Protection Act....Passage required the votes of 13 Democrat senators to get it across the finish line.</p><p></p><p>Under Dodd Frank banks with less than 10 billion in deposits were not subjected to the same rigorous regulations including the so called "stress tests" larger banks had to comply with</p><p></p><p>However one of the provisions of the Economic Growth, Regulatory Relief And Consumer Protection Act raised that threshold from 10 billion to 250 billion. SVB made sure that it stayed just under that threshold allowing them to pretty much do whatever they damned well please. </p><p></p><p>Just the other day Janet Yellen reaffirmed the need for the return of Glass Steagall in order to put an end to the shenanigans of greedy bankers.</p></blockquote><p></p>
[QUOTE="bacha29, post: 5540647, member: 58386"] Guys, it all comes back to having allowed greedy bankers to succeed in their effort to get Glass Steagall repealed and replaced with the mother of all greedy banking laws Gramm Leach Bliley. The legislation most widely blamed for the 2007/2008 financial crisis. This debacle brought about the 2010 passage of Dodd Frank which restored many of the banking rules set forth under Glass Steagall. In 2018 however Dodd Frank was weakened considerably with the passage of the Economic Growth, Regulatory Relief And Consumer Protection Act....Passage required the votes of 13 Democrat senators to get it across the finish line. Under Dodd Frank banks with less than 10 billion in deposits were not subjected to the same rigorous regulations including the so called "stress tests" larger banks had to comply with However one of the provisions of the Economic Growth, Regulatory Relief And Consumer Protection Act raised that threshold from 10 billion to 250 billion. SVB made sure that it stayed just under that threshold allowing them to pretty much do whatever they damned well please. Just the other day Janet Yellen reaffirmed the need for the return of Glass Steagall in order to put an end to the shenanigans of greedy bankers. [/QUOTE]
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