Letter: The real blame for bank failures
The cartoon in the Opinion section of Tuesday's Herald portrays President Trump (naturally) as being responsible for the failure of Silicon Valley Bank on Friday, March 10. This is rubbish.
How do I know it's rubbish? Barney Frank said so in an interview with Bloomberg News. Mr. Frank, of course, is the co-author the 2010 Dodd-Frank Act, which was supposed to prevent future bank panics and failures. So much for that.
The irony of ironies is that Mr. Frank was, up until last Friday, a director of Signature Bank (of New York), which also was taken over by the Feds over the weekend.
It's a shame that Mr. Frank didn't spend 10 years as a bank director before he started writing laws to regulate banks.
Dave Van Singel
Long Grove
Article Comments
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked.
If a comment violates these standards or our terms of service, click the "flag" link in the lower-right corner of the comment box. To find our more, read our FAQ.