That’s a bunch of bullshit, the link Botten posted said it had only a modest influence

The bank failed because of the rate hike on the treasury bonds + the run on the bank and the rollback wouldn’t have influenced it

Also investing in fluff and probably inconsequential LGBT programs is what creates the “woke” claim. Dunno if you think those are lies or are too dumb to understand the definition of what woke means

I'm sure their having no chief risk officer for like eight months had nothing to do with successfully lobbying Republicans to rescind regulations that required the bank to undergo regular stress tests. But go ahead and believe whatever dumb shit the fundie lunatics you watch on Youtube tell you, don't let me stop you.

I’ve been saying the bank was stupid to ignore the fact that the Biden admin has been doing money printer go brrrr when they decided to go all in on something that will tank in value once the interest rate goes up

So if you want to say the reason for that is they didn’t have CHIEF RISK OFFICER person, then maybe they should make me that person, because I guessed that in minutes

See also: why they shouldn’t get bailed out IMO

Lol of course horza finds a convoluted rationale to blame it on republicans. The stress tests guys!! They would have fixed everything. Republicans apparently love being rich and greedy but also favor policy that makes banks fail? Makes total sense.

Whoops, I keep hearing diversifying your investing is smart

Too bad SVB is dumb, and that’s all Trump’s fault:

“Silicon Valley Bank was allowed to build up a "massive position" on bonds with "little to no hedging for interest rates," said Aaron Klein, a senior fellow in economic studies at the Brookings Institution, a Washington, D.C., think tank”

Not having a chief risk officer is not exactly convoluted when we're talking about a bank that is managing hundreds of billions in assets.

17 Democrats joined a unanimous Senate Republican conference to pass it. It cleared the House 258-159, winning 225 Republicans and 33 Democrats. Trump signed it into law.

Wouldn’t these rollbacks also affect other banks?

And yet somehow, without chief risk officers, they were smart enough not to go all in on an investment who’s value tanks as soon as the feds raise interest rates….at a time when our gov’t spending was higher than its ever been

Can’t make non-stupid decisions without a chief risk officer!

"The bank was stupid," no shit maybe don't let executives bribe Republicans to write their own regulations? Hindsight is 20/20 I suppose.

Babies tend to be more physically resilient to trauma than ppl past puberty so I generally am unconcerned about them. And if the tribe will not raise them. It cannot be helped.

Leave it to Dems to think you can regulate away stupidity. What if they had a chief risk officer and the person chose to ignore the risk anyway?