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SVB Used Former McCarthy Staffers to Weaken Regulations, Lobby FDIC

theintercept.com

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Re: SVB Used Former McCarthy Staffers to Weaken Regulations, Lobby FDIC

#161

Post by Karunamon »

notch898a wrote: post #159
Karunamon wrote: post #151

Earlier quoted context omitted.

The problem with blaming the government for this failure is that only one bank seems to have been affected. Since we are talking about sector wide regulations and policies rather than anything that targeted this specific institution, it is evidence strongly in favor of the problem being with the bank, not with the environment. Were this is a problem with law or interest rates or something like that, we would expect t…

1000 people are forced to roll a 10,000 sided dice. They roll a '1' and they die. At the end one person is dead. Clearly since that one person followed the sector wide regulation and polices rather than anything that targeted that specific person, it is evidence strongly in favor of the problem being with that person, not the dice game. Were this a problem with the game or the dice or something like that, we would ex…

Yes, it clearly isn't the same. In the first place, we are not talking about randomness. Your example is facile and your copy and paste sarcasm is both unwelcome and against the rules. I'm done here.

Re: SVB Used Former McCarthy Staffers to Weaken Regulations, Lobby FDIC

#162

Post by downrightmike »

cratermoon wrote: post #60

It appears the emerging consensus among the apologists is that SVB failed because the federal government, or the Fed specifically, over-regulated them by making them take certain positions, then pulled the rug out from under the by raising interest rates. In short, it wasn't the fault of the people running the bank. In other news: https://www.nbcnews.com/business/business-news/etsy-delays-p...

The Dude who ran SVB into the ground also ran Lehman Bros into the ground, just saying, he should not be held responsible at some point.

Re: SVB Used Former McCarthy Staffers to Weaken Regulations, Lobby FDIC

#164

Post by billfor »

andrewstuart wrote: post #11
hedora wrote: post #8

Earlier quoted context omitted.

In fairness, the train crash had bipartisan support.

[flagged]

Would not have applied to this train even if it were true. https://www.factcheck.org/2023/02/ntsb-chair-contradicts-pos...

Re: SVB Used Former McCarthy Staffers to Weaken Regulations, Lobby FDIC

#165

Post by egberts1 »

billfor wrote: post #164
andrewstuart wrote: post #11

Earlier quoted context omitted.

[flagged]

Would not have applied to this train even if it were true. https://www.factcheck.org/2023/02/ntsb-chair-contradicts-pos...

Here are some of Bess Levin's articles on Vanity.

Looks pretty biased to me, not to mention clueless to the inner working of NTSB, so it is safe to say that she "parrots" narratives.

https://www.vanityfair.com/contributor/bess-levin#intcid=inl...

Re: SVB Used Former McCarthy Staffers to Weaken Regulations, Lobby FDIC

#166

Post by EFreethought »

hedora wrote: post #8
andrewstuart wrote: post #3

Weaken regulations, trains and banks crash, but hey small government, slash the red tape.

In fairness, the train crash had bipartisan support.

Deregulation sometimes has bipartisan support.

One difference is that when things start breaking, Democrats are willing to reconsider de/regulation, while GOP blames the government (even if there had not been inspections for years) and doubles down.

Some Dems voted to repeal Glass-Steagall, but more voted to keep it. The GOP votes was far more lopsided in favor of repeal.

Re: SVB Used Former McCarthy Staffers to Weaken Regulations, Lobby FDIC

#167

Post by jjeaff »

tzs wrote: post #88
andrewstuart wrote: post #11

Earlier quoted context omitted.

[flagged]

It seems reasonably likely they would have also been cut if Clinton had been president, due to the review requirement that was built into the regulations themselves. The 2015 law that required ECP brakes also required before they went into effect the government ask the National Academy of Sciences (NAS) to review the safety assumptions that the regulations had been based on and report whether or not those assumptions…

Unlikely they would have been cut under Clinton. And I don't think the required review you are talking about is concerned with safety. It's money. The review that is required is actually a financial review that decides if the cost of the safety regs in question exceed the cost of potential accidents. This analysis had already been done. However, the Trump admin had the calculation done again, I would assume after putting their own people in place and they found that the regulation was too costly. Big errors were made in their calculation but they claimed that even after fixing the errors, it was too costly. So they rolled back the regs.

That being said, the regs in question only applied to certain hazard levels and the train that crashed did not meet that level because it didn't have enough cars with hazardous materials.

Re: SVB Used Former McCarthy Staffers to Weaken Regulations, Lobby FDIC

#168

Post by notch898a »

Karunamon wrote: post #161
notch898a wrote: post #159

Earlier quoted context omitted.

1000 people are forced to roll a 10,000 sided dice. They roll a '1' and they die. At the end one person is dead. Clearly since that one person followed the sector wide regulation and polices rather than anything that targeted that specific person, it is evidence strongly in favor of the problem being with that person, not the dice game. Were this a problem with the game or the dice or something like that, we would ex…

Yes, it clearly isn't the same. In the first place, we are not talking about randomness. Your example is facile and your copy and paste sarcasm is both unwelcome and against the rules. I'm done here.

I see so we're yet again moving the goalposts you set and now moving on to additional criteria like whether chance was involved. On the contrary, I would say quite a bit of uncertainty was involved, especially since a lowest uncertainty option was outlawed.

Re: SVB Used Former McCarthy Staffers to Weaken Regulations, Lobby FDIC

#169

Post by reso »

hedora wrote: post #8
andrewstuart wrote: post #3

Weaken regulations, trains and banks crash, but hey small government, slash the red tape.

In fairness, the train crash had bipartisan support.

Almost like there is little difference between the major parties on economic issues.

Re: SVB Used Former McCarthy Staffers to Weaken Regulations, Lobby FDIC

#170

Post by jjeaff »

pessimizer wrote: post #117
mjhay wrote: post #33

Earlier quoted context omitted.

Biden could reinstate them by EO, just like how Trump cut them. He hasn't though. There is a bipartisan consensus that the safety of the rail system is less important than rail company profits.

> Biden could reinstate them by EO, just like how Trump cut them. He hasn't though. He probably just hadn't noticed. It couldn't be that he allowed to rules changes to continue because some money flows towards him, his friends, or his party and his party's friends depended on maintaining those changes. Biden put a famously competent and experienced person in charge of Transportation and he didn't notice the change, s…

The secretary of transportation is far too high up the chain to know about the minutia of train brake regulations. There is a whole federal agency that deals with train regulations which is one of the 10 agencies that report to the sec of transportation.
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