Silicon Valley Bank - 89 percent not covered by insurance

[Fiendish Thingy]

10. This bank existed to raise venture capital funds for tech startups

SVB banked a risky sector of the economy, and financial regulations have strengthened since the 2008 recession.

This was true until 2018, when SVB aggressively lobbied congress to relax regulations (on the Dodd-Frank bill) on cash liquidity because the regulators were breathing down their neck.

50 Democrats supported the bill, which somehow escaped being filibustered in the senate (edit: it was because 17 Senate Democrats supported the bill ), and Trump signed it into law. The regulators disappeared.

Taxpayers should not be on the hook for losses above $250k - the small businesses should have to sue the bank in court, and there should be criminal investigations, although, with the relaxed regulations, what they did might have been perfectly legal.

I don’t know how many, if any, small businesses that weren’t tech start ups used SVB- do you?