Biden and Trump argue over bank failure

[Bruce4]

The recent banking crisis in the US involving the fall of the prestigious banks like silicon valley bank(SVB),signature bank,and silvergate
Bank have spurred a political discussion between US president Joe biden and former US president Donald trump.They have publicly blamed each other's policies for the outcome,but according to some analysts,the problem might be ignorance in the banking system.
While Donald trump have bodly declared that biden is responsible for the economic catastrophe that has befallen the country.
What do you think about the responsibilities of biden,trump and the banking operators for the current banking crisis?
I think there is a mix up somewhere...please mates let's share ideas.

[o48o]

The recent banking crisis in the US involving the fall of the prestigious banks like silicon valley bank(SVB),signature bank,and silvergate
Bank have spurred a political discussion between US president Joe biden and former US president Donald trump.They have publicly blamed each other's policies for the outcome,but according to some analysts,the problem might be ignorance in the banking system.
While Donald trump have bodly declared that biden is responsible for the economic catastrophe that has befallen the country.
What do you think about the responsibilities of biden,trump and the banking operators for the current banking crisis?
I think there is a mix up somewhere...please mates let's share ideas.

So is Trump complaining that Biden didn't put make new regulations fast enough after Trump removed them? I mean trump removed those safeguards that oversee banks exactly for preventing something like this. It's faster to get rid of regulations then make new ones that are airtight. And Trump did ton of rollbacks affecting all areas from life to tech and nature.

Even a toaster would have done less damage to US and world as a president.

[Gyfts]

Trump is partially responsible, Biden is mainly responsible.

The so called regulations that Biden thinks would have stopped a run on the banks would not have changed anything. Banks simply do not carry enough cash on hand that would allow for their creditors to immediately withdraw their holdings contemporaneous to one another. If the U.S. economy were not in such bad shape, SVB would not have needed to sell off their assets at a discount causing the run in the first place. Remember -- treasury bonds were never supposed to be a high risk investment for SVB. They become high risk when the central banks begin raising interest rates. Those interest rates hikes are because Trump, but mainly Biden, printed more money than the U.S. economy could handle during the COVID era. To Trump's credit, he tried to end the government welfare state quickly after it was created but by that time, the world economy/supply chains had already caved in. Biden would come into office and only extend the COVID era.