Barney Frank, architect of Dodd-Frank Act, pushes back on Democrats blaming Trump for bank collapses
"I think, if it hadn't been for FTX and the extreme nervousness about crypto, that this wouldn’t have happened — even to SVB or to us," Frank explained
Democrats, including President Joe Biden and Sen. Elizabeth Warren (D-Mass.), are blaming Donald Trump for the sudden collapse of two banks, Silicon Valley Bank and Signature Bank.
But Barney Frank, a leading sponsor of the Dodd-Frank Act, sharply disagrees.
The law, signed by then-President Barack Obama in 2010, made significant changes to Wall Street regulations and federal financial regulatory agencies in the aftermath of the financial meltdown in 2008. The bill, though controversial, was theoretically designed to protect Americans. ---More...
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