Faces on the Frontlines Newsletter
The Silicon Valley Bank collapsed this past week.
Like Senator Elizabeth Warren, we see a clear connection between the bank’s demise and a bill Donald Trump signed in 2018 that undid essential banking reforms enacted in 2010, paving the way for financial institutions to chase after profits and disregard the downsides. SVB’s top dog Greg Becker, Senator Warren points out, took home almost $10 million last year for boosting his bank’s profitability — “and its riskiness.”
