What caused the disastrous collapse of Silicon Valley Bank? Was it their bad investments? Wrong choices? Spreading themselves too thin?
According to liberals, no. The left has decided to put all of the blame on Donald J. Trump, who has been out of office for nearly 2 and a half years.
Here’s the story from Fox News:
Shortly after the second-largest bank collapse in United States history, many liberals took to social media to place the blame on former President Donald Trump.
“By the way, Trump deregulated banks like Silicon Valley Bank, which failed Friday,” Robert Reich, who served as labor secretary under former President Bill Clinton, posted on Twitter Friday after news that Silicon Valley Bank had been shut down by FDIC regulators in an effort to protect customers as the bank faced a liquidity crunch after losing $2 billion.
Reich was joined by other liberals on Twitter attempting to place the blame on Trump for signing a bipartisan bill in 2018 that rolled back elements of Dodd-Frank.
“It seems likely that this could have been avoided if it weren’t for the roll-backs by the Trump administration,” journalist Ed Krassenstein tweeted.
“Quick reminder: 50 Republican senators and 17 Democratic senators voted to ignore warnings and weaken risk regulations for Silicon Valley Bank,” journalist David Sirota tweeted. “Donald Trump signed the bill into law. And now the bank is the 2nd biggest bank collapse in American history.”
Again, when Trump was in office, any “failure” was blamed on him, but any “success” was credited to Obama.
Now, liberals have changed their tune.
Any economic failures under the Biden administration is “Trump’s” fault, but any positive economic news should be credited to Biden.
You just can’t make this stuff up.