Re:Urgent: Sign the petition now
by bcrosby95 on Saturday March 11, 2023 @07:16PM
(#35114522)
I don't know what your views on all this is.
The problem is many of your peers in your space actively advocate, lobby, and spend lots of $$$ to reduce regulations whose aim is to try to prevent this sort of stuff. SVB themselves were pushing to be exempt from stress tests in Dodd-Frank, which they were successful at achieving back in 2018. If regulation is really a concern, why continue banking at a company that was actively lobbying to be exempt from regulations that already existed?
Anyways, I'm not gonna pass judgement either way. People make mistakes. However, it's a constant battle, and when ground is gained its easily lost. It's a tireless fight against monied interests trying to make more money in any way possible. People are going to understandably be frustrated at petitions like this.
The problem is many of your peers in your space actively advocate, lobby, and spend lots of $$$ to reduce regulations whose aim is to try to prevent this sort of stuff. SVB themselves were pushing to be exempt from stress tests in Dodd-Frank, which they were successful at achieving back in 2018. If regulation is really a concern, why continue banking at a company that was actively lobbying to be exempt from regulations that already existed?
Anyways, I'm not gonna pass judgement either way. People make mistakes. However, it's a constant battle, and when ground is gained its easily lost. It's a tireless fight against monied interests trying to make more money in any way possible. People are going to understandably be frustrated at petitions like this.