"President
Donald Trump's rollback of some of the Dodd-Frank rules was not a factor in the collapse of either SVB or Signature Bank, Frank said. The changes that Trump put in place eased regulations and decreased the amount of money that was spent on compliance for midsized banks such as Signature."
Dodd-Frank Co-Author, a Director of Failed Signature Bank, Touts Reforms - TheStreet
Clinton Housing Policy Wrecked Economy, Not 1% | Investor's Business Daily (investors.com)
This is a very confusing article.
It states:
" But Frank is standing by the banking regulation reforms he sponsored and said that without the passage of Dodd-Frank the bank failures could be more widespread."
" “The vindication of the bill is that nobody is talking about anything like 2008,” he told Bloomberg. “If the bill hadn’t been passed, we’d be seeing a lot more damage these days. We got a lot of the vulnerability out of the system.” "
It seems he says that this regulation was excellent and kept many banks from going under but then goes on to say:
"President Donald Trump's rollback of some of the Dodd-Frank rules was not a factor in the collapse of either SVB or Signature Bank, Frank said."
Seems he is blaming the failure on cripto currency, not on the lack of protections his regulation would have provided.
I will have to take a deeper look into his views as well as Chris Dodds to see if they are on the same page.on this