How the Silicon Valley Bank Implosion Leads Back to Trump
Rep. Dan Goldman (D-NY), a congressman representing New York’s 10th District and former lead counsel against Donald Trump during his impeachment hearing, is joining Senator Bernie Sanders in pointing a finger at the former president for contributing to Silicon Valley Bank’s recent demise.
“It’s pretty well-known now in 2018, under the Trump administration, regulations of banks were softened and loosened, which very well may have contributed to the highly concentrated investing that Silicon Valley Bank did with all of its deposits,” Goldman says on the latest episode of The New Abnormal politics podcast.
“And, ultimately, when a relatively simple change in interest rates causes Silicon Valley Bank to essentially turn upside down, that’s a failure of the system.”