'You have to be hard-core committed to mindless free-market fundamentalism—or truly in thrall to your donors—to insist there's no need for new regulations after Silicon Valley Bank,' wrote Rob_Weissman of Public_Citizen.
for the failures of Silicon Valley Bank and Signature Bank, both of which were in the category of firms that saw regulatory relief thanks to the 2018 law.
"The fact is that President Biden—through all of the spending that he did in the last Congress and the last two years—has driven inflation up to the point where wage earners have to get a 14.8% wage increase just to hold even with this kind of inflation," said Crapo. "And when the Fed responded to push interest rates up, that's what caused a liquidity crisis for these two banks.
"You have to be hard-core committed to mindless free-market fundamentalism—or truly in thrall to your donors—to insist there's no need for new regulations after Silicon Valley Bank,"
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