Weekend was, there s no atheist in fox holes and there s no libertarians in a financial crisis, right? everybody says, we don t want regulation we re good let it roll. when there is a problem, they say, yo, government, help me out. is there anything in the rollback of dodd/frank, that it affected this directly where you could say, donald trump said this, and this would not have happened if dodd/frank had not been rolled back in any way. there is not a straight line that said x cause d y. however, when you allow more proprietary trading, when you take the gaties down and say, yu don t have to have high capital requirements, when banks roll the dice with their money, the one thing is, after 2008, they made sure there wasn t going to be concentration to one specific customer or one specific asset class. what they didn t think about was, what happens if all your depositors are in one industry, which is basically the case of silicon valley bank. the question now is, who are those executives who are the officers
Particular made a pretty basic no-no, which was essentially not hedging against interest rate risks. and when everybody kind of knew interest rates were going to go up. so that s something that seem like it should have been caught. whether you can directly draw a linkage between that deregulatory action, you know, rolling back part of dodd/frank and this collapse i don t know yet, but it seems quite plausible. moral hazard is a term that i know been on the shelf for 15 years. but i am curious if it s back now, i get that the investors in the bank aren t being bailed out, but the depositors they knew their deposits greater than $250,000 were not fdic were insured. you mentioned it s unprecedented to bail all of them out. does this create a precedent now where people feel a deposit in a
Small loss because they were uninsured creditors and instead uncle sam is going to make them whole. clearly you could argue that management had made bad decision. that having been said you saw investments in deposits go up double in size in two years at this bank, almost all of it 98% or so uninsured. was this an area where reg regulators could have stepped in sooner and prevented what we re now seeing? it s a massive failure of bank supervision. so during the financial crisis we had so many different regulators in america and they all pointed fingers at each other saying it was in this part of company and that party of the company, et cetera. silicon valley bank was regulated head to toe. they had tons of authority, authority granted to them in the dodd/frank bill that we worked on in the obama administration, and they botched it. and there were clear red flags,
Government i guess they re not calling it a bailout, but helping the banks to stay afloat involves firing management what could be done about that? you have a guy that s dumping stock or dumping millions of dollars of stock before the bank collapses? that s a serious thing, and we must be concerned about it. we re not bailing out the banks. we are really taking care of our depositors, both again, insured and uninsured. and banks that have done, you know, suspicious things or things that perhaps already are in violation of regulation of laws are going to have to be accountable. they re going to have to be accountable for what they have done do you think that maybe this is one sort of element where it is a bipartisan issue. barney frank who people remember as the frank in dodd/frank reportedly supported weakening some of these regulations, and then he left to then join the board of one of these two banks. signature bank is that an issue where you have
Dodd/frank or whatever, and we know there s questions about whether that was rolled back and what role that plays in the trump administration. but is this a regulatory issue? i think we still don t know if tirely for sure. we do know after the 2008 financial crisis dodd/frank was put in place in part to try to prevent these kind of future bailouts, to try to prevent the risk taking that would lead to a failure that would require a bailout. but for the most part it s the really big financial institutions that had been subject to much stricter regulatory requirements and regular stress testing, and more recently some of these smaller to medium sized institutions have had some of their regulations relaxed. they re not stress tested to use it term as frequently. would the vulnerabilities at silicon valley bank had been caught had they been stress tested more frequently, had regulators been more proactive? i think probably based on the bank experts and economic experts i ve spoken with. it seems like silicon bank in
This job with the asian pacific american caucus throwing their wait behind her. bret? bret: jacqui heinrich on the north lawn, thank you. more on the s director s news by the covid lab later in the show. we are getting new information tonight about how taliban leaders in afghanistan are targeting afghans who worked with the u.s. government who worked with the u.s. military cleve national security jennifer griffin has details from the pentagon. a new mandate inspector general report says the taliban are using dodd collected biometric data even gun records to establish the identity of afghans alongside u.s. forces. fingerprints, iris images, facial images and, when possible, contextual data such as where a person lived. a spokesman for the afghan national resistance front says in some cases the taliban aren t just using the information to kill those who served with u.s. forces. there s going to be others who will recruit them and use
jesse: don t let biden s war on hobby clubs distract you what is going on with his classified docs. the fbi is digging through thousands of boxes at the university of delaware where biden stashed mountains of files including some related to sexual assault allegations from his days in the senate. white house correspondent jacqui heinrich has the story. jacqui? hey, good evening, jesse. we can confirm that the fbi searched the university of delaware on two occasions for biden classified documents. we are told that they didn t find any with classified marks but they did take some materials for additional review. we don t know when the severance happened. searches happened.they were con. the dodd and fbi. the white house also punted questions today. i understand the questions. i know there are going to be a few more questions about that. i m going to say from here as i have been for the past couple weeks. we are going to continue to be prudent. i will not give any comments
Only one parent in the home with the children. in a situation like that both society and its political leaders looked oddly hypocritical if they say if there is nothing more important than raising children. utterly. how about a little help to do that? oh we can t do that. so. the rest of us followed the lead of senator dodd and the others in the senate and there were republicans to that work for it. that was a different time. there were more than 200 women, children, labourand faith organisations led by the national partnership for women and
Wildlife is returning to a lower section of the Baakens River Valley and security for walkers and joggers is improving thanks to a community-sponsored ranger project.
With the new year fast approaching, here are some predictions for what may be coming for in-house legal teams, writes Mark Dodd. It s that time of year. Christmas decorations come out of their box