In 2018, Trump signed a bill that lessened regulatory scrutiny for many regional banks.

[kpete]

https://www.reuters.com/article/us-usa-trump-dodd-frank/trump-signs-bill-easing-u-s-bank-rules-into-law-idUSKCN1IP2WX

[dembotoz]

1. contrary to gop thought. regulations appear for a reason

remove the guard rails and cars roll off the cliff......

[Scrivener7]

2. I will bet that, if you scratch this story deep enough, there will be one or two people

who profited nicely off the rollback of regulations, then walked away and left the bank to sink. The bank recently sold $21 billion in assets. A lot of that, I will bet, ended up in a few pockets.

Benefiting those few was the purpose of the rollback. And I wonder what other regional banks are on the brink of similar collapses.

[modrepub]

3. I Have My Doubts

IMO, this is just the price of allowing banks to accumulate very large amounts of assets. Kind of along the lines of the bigger they are, the harder they fall.

If people and companies had spread their assets/money over many smaller banking institutions (and if financial institutions were kept relatively small) then one bank failure wouldn't be so catastrophic. Instead we have these large financial conglomerates controlling huge amounts of assets threatening to take down our whole financial system if and when they make a bad financial decision. The consequence is, we the tax payers, wind up having to clean everything up after them (at potentially great short-term expense).

Erasing all the regulations that were passed during the Great Depression basically exposed us to the same processes that put us in the Great Depression. Again, IMO, you can't talk about the evils of big government without addressing the evils of big business.

[Fiendish Thingy]

4. How did such a bill get past the filibuster in the senate?

There must have been some heavy lobbying cash spread around to get enough Dems to vote for cloture…