The second-largest bank failure in American history has been major news — but the corporate media coverage has missed how corporate lobbying and government deregulation made this failure more likely. The Lever uncovered federal documents outlining the bank’s president urging congress to lessen banking regulations. Then, we exposed how not long before SVB’s collapse, lobbyists for the bank successfully pushed back on an effort to bolster deposit insurance. In the video below, David connects the dots on these reports.
The only way to force those in power to do right by all of us is to continue lifting the veil on these kinds of inconvenient truths.