Retired congressman Barney Frank, who helped pass strict financial regulations in the wake of the 2008 crash, was on the board of directors of New York’s Signature Bank, which was shut down over the weekend.
Frank has turned to blaming cryptocurrency for the volatility that led to this implosion.
He also rejected the notion that a Trump era rollback of the Dodd-Frank regulations contributed to the collapse. “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,”
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