The Power of the Financial Industry

In 2008, Silicon Valley Bank was bailed out and how fast black homeowners were bailed out. Five years later, we have one of those two banks lobbying to get out from under the regulations that were basically just safeguards. The lesson for me in this is that actually regulations work. Safeguards are smart. This bank was exactly the kind of bank that should have always been under that extra level of scrutiny. It took a huge outsized risk in one type of security and one type of bond.