Rep. @BryanSteil breaks down the causes of the banking crisis. “It’s pretty clear what got us in this position: it's high inflation. And the inflation was caused by excessive spending in Washington, by energy policies that refuse to unleash American energy.”
@GOP @BryanSteil Nope on all fronts. Did we have giant bank failures when in the 1970s when inflation was 15%, or in the Reagan recession to end that with 20% interest rates & 10% unemployment? Repeating the mantras without documentation is still repeating the mantras without documentation.
@GOP @BryanSteil Nope, they knew the consequences but probably expected to get a bail out funded by taxpayers, which the GOP loves to do. Which is NOT going to happen. Wall Street and other banks will foot the bill for individuals and small business.
@GOP @BryanSteil CNBC, and so many others keep pointing their fingers at the FED. Nice deflection, and a total lie. The FED is merely responding to the stunning levels of unconstrained spending by the federal government. We are being buried by the pols spending OUR money.
@GOP @BryanSteil It’s the high interest rates that made it collapse and what have the republicans done in congress to combat inflation absolutely nothing!!! All they do is argue attack and investigate cause their all bitter and angry !!! It’s all for revenge they are in Congress for revenge
@GOP @BryanSteil GOP loves messing up in the future and they don't know they're doing it. Like when Donald Trump deregulated banks, railroads, only God knows what other disasters are coming because of the notions of a rich dude. The ideas of rich folks can't possibly work in the real world.
@GOP @BryanSteil trump was warned that trashing the Dodd-Frank Act would create exactly what happened with SVB. On March 14, 2018, the Senate passed the Economic Growth, Regulatory Relief and Consumer Protection Act exempting dozens of U.S. banks from the Dodd–Frank Act's banking regulations.