Meet The Champions Of Banking Deregulation
See who helped slash bank rules before Silicon Valley Bank’s collapse, what they said at the time, and what they’re saying now.
National Politics
Fed Insisted SVB Posed No Serious Risk To Financial System
Less than two years later, Fed Chair Jerome Powell cited systemic risk as justification to protect Silicon Valley Bank’s depositors.
Regulators Greenlit SVB’s Risky Investments
Following lobbying efforts, the Federal Reserve exempted Silicon Valley Bank’s venture capital investments from a key risk management rule.
📽️ WATCH NOW: The Lever’s Leading The Coverage Of The SVB Collapse
The Lever first uncovered federal documents outlining SVB's successful efforts to push back on banking regulations.
SVB’s Lobby Groups Fought Proposal To Bolster Deposit Insurance
Months before Silicon Valley Bank collapsed, its D.C. advocacy groups said the FDIC initiative “would unduly burden banks.”
SVB Chief Pressed Lawmakers To Weaken Bank Risk Regs
Collapsed bank’s president told Congress “enhanced prudential standards” should be lifted “given the low risk profile of our activities.”
Workers Are Funding Private Equity’s Child Labor Exploitation
Public employees’ retirement savings have funded the private equity takeovers of companies that used child labor in dangerous factories.
Rail-Lobbyist-Turned-Senator Could Block Safety Bill
John Thune embodies the rail industry’s Washington influence machine that could now kill bipartisan safety legislation.
Campaign Cash Goes In, Late Fees Come Out
Republican lawmakers funded by the credit card industry are fighting to protect the excessive fees companies charge consumers.
LEVER TIME: Nina Turner On Dems' Working-Class Voter Problem
On this week’s Lever podcasts: David interviews progressive icon Nina Turner, and MVC explores Charlie Chaplin’s anti-capitalist masterpiece Modern Times.