we just won an oscar to gather for all the little boys and girls who look like me watchin tonight, this is a beacon of hope and possibilities this is proof that dreams drea big, and dreams do come true and ladies, don t let anybod tell you you are ever past you prime. never give up! [applause] and on that, american dream affirming note, i wish you a good night from all of our colleagues across the networks of nbc news, thanks for staying up late i ll see you at the end of tomorrow thanks for joining us this hour. it s really good to have you here when we get a new president in this country, or when we get a president reelected for a ne term, that president i inaugurated. he, or maybe someday she, is sworn in to start a ne presidential term in january right? that s why it s always so cold january 20th is when the inauguration happens but that has only been tru since the 1930s. up until the 1930s, presidents did not get inaugurated in january. they waited another tw
went to jail, let s take the off the watchlist and trea them like tiny community banks out somewhere nowhere wher they can hurt the economy. nobody can explain why they re saying that banks that are u to a quarter of a trillion dollars should be regulated as if their community banks that was elizabeth warren i 2018 and that is, in fact, exactl what passed in 2018. that is what donald trump side 2018 elizabeth warren, when she predicted what that would do what kind of risk that create, that was one hunted percen right. this silicon valley bank, this is one of the banks whose ce lobby that a bank like his should not be subjected to the new regulations, that his bank was no risk to anyone. and because of that change signed by president trump in 2018, in fact, silicon valle bank did not have to b subjected to the extra stres
whole lot of oversight that s great and it works well. if you have your money in bank like that, good for you it will be fine. the very largest banks still have the tougher regulatio that dodd-frank put in place the great big name brand banks what happened is these banks they re often called regiona banks, even though they re really national, is this tea of banks that are big, that th o-line had been anybody with more than 50 billion dollars i assets is going to be subjec to the stronger regulations. they ve got it changed to 25 billion. and what you have is this grou of very aggressive banks, some more aggressive than others, some run in wilder ways than others but that s where the problem i in the system. whether president of the unite states has now said, and i wan to stop here and say, boy, am
over the past few days in th u.s. banking system. these recent bank failures are the direct result of leaders i washington weakening the financial rules. in the aftermath of the 2008 financial crisis, congress passed the dodd-frank act, t protect consumers and ensure that big banks can never again take down the economy an destroy millions of lives. wall street chief executives and their armies of lawyers an lobbyists heated this law. they spent millions trying t defeat it. and when they lost, they spent millions more trying to weaken it greg becker, the chief executive a silicon valley bank, was one of the many high powered executives that lobbie congress to weaken the law and 2018, the big banks one, but support, from both parties present party side a lot to rollback critica parts of dodd-frank law. banks like silicon valley bank which became the 16th larges bank in the country, befor regulators shut it down on friday, got relief fro stringent requirements, basing their claim on the
democratic led congress, signe by president obama in 2010 then what happened well, eight years later in 2018, after relentless lobbying by the banks and the financia industry, once republicans wer in control of congress and president donald trump was i the white house, guess wha happened they decided it was way past time to rollback those new safeguards the legislation i m signing today rolls back the crippling dodd-frank regulations oh, good. that rollback was passed, wa signed by then president donal trump in 2018. in the senate, it was passed b all the republicans, and 1 democrats, 17 moderate and conservative democrati senators who joined with republicans to pass it in the house, there were 3 democrats who joined wit republicans to pass it including future democrati senator, well, now no longer