What Katie Porter rightly had to say about the #SVB debacle on the birdsite:

"The collapse of Silicon Valley Bank was totally avoidable. In 2018, Wall Street pushed a deregulation bill that allowed banks like SVB to take reckless risks. It passed, even as I and many others warned of the risks. I am writing legislation to reverse that law."

Between 2015 & 2018 (passage of "GOP's" rollback legislation) SVB spent more than $500,000 to lobby/ bribe/ coerce Members of Congress to implement the deregulation that let SVB fuck up its own business.

#SiliconValleyBank #SVB #RiskyInvestments #DoddFrank #GOPSabotage #TrumpCorruption #IncompetentGOP #Corruption #AmericaDeservesBetter #Democracy #WeCanDoThis
https://www.commondreams.org/news/trump-era-deregulation-deemed-a-key-culprit-in-failure-of-silicon-valley-bank