pjmedia.com
The blame game is underway. Banks are failing, they say, because it’s all Trump’s fault. Banks are failing because it’s all Biden’s fault. But here’s the truth: Banks are failing because, among other things such as the bank’s own bad risk management, politicians are greedy. Their greed and profligacy could wipe out a swath of tech innovation in the frenzy following the implosion of Silicon Valley Bank (SVB).
Donald Trump spent like he was playing with house money. But he unleashed the economy that more than made up for it — until COVID. Then Joe Biden came to office and said hold my beer.
You can’t do much about the balance sheets of a first-tier bank that finances Silicon Valley start-ups, but you surely can do something about politicians who hastened that bank’s free fall into receivership.
"The State of the Union is STRONG." – Joe pic.twitter.com/2lQ6PQXWL5
— Victoria Taft, The Adult in the Room, FITF Squad (@VictoriaTaft) March 13, 2023
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