How did Silicon Valley Bank’s collapse happen? Rollback of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, according to PoliticusUSA.

The “liberal news, commentary and opinion” media website quotes Liz Zelnick, director of the economic security and corporate power program at Accountable.US saying, “This mess was left behind by Republicans and the Trump administration who were too deep in the big banks’ pockets to care about the consequences of gutting financial industry oversight. The chickens came to roost [Friday] in the Republican war against Wall Street Reform and common financial protections.”

Accountable.US is self-described as a non-partisan organization that “shines a light on corporations and special interests.”

Then-President Trump in 2018 signed a bill that exempted many U.S. banks from Dodd-Frank.

Upshot: If SVB’s collapse has anything like the effect of Lehman Brothers’ collapse in 2008 during the Biden administration, the current president will bear much of the blame.

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