Republicans have diagnosed the failure of Silicon Valley Bank, the largest bank to collapse since the 2008 financial crisis: It was simply too “woke” to function.
by the end of last year, most of it was not liquid, as is the case at most banks. The bulk of its money was tied up in long-term debt, such as Treasury bonds and mortgage-backed securities that it bought up in the hopes of netting small but stable returns. That bet, however, was reliant on interest rates remaining low. When the winds began to shift last year, those investments became far riskier.the collapse from affecting other banks, an effort Republicans have now come out against.
In contrast to the right’s cultural bomb hurling, some Democrats have pinned the problem on the laissez-faire policies passed when Republicans were last in control of Washington. “Congress, the White House and banking regulators should reverse the dangerous bank deregulation of the Trump era,” Senator
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