Silicon Valley Bank, the second-largest bank collapse in U.S. history, has shocked the nation. While many are wondering what caused the collapse, the left has wasted no time placing the blame on former President Donald J. Trump.
Liberals took to social media shortly after the bank’s collapse to place the blame on Trump for deregulating banks like Silicon Valley Bank.
Robert Reich, who served as labor secretary under former President Bill Clinton, posted on Twitter, “By the way, Trump deregulated banks like Silicon Valley Bank, which failed Friday.”
Other liberals joined Reich on Twitter, attempting to place the blame on Trump for signing a bipartisan bill in 2018 that rolled back elements of Dodd-Frank.
According to journalist Ed Krassenstein, “It seems likely that this could have been avoided if it weren’t for the rollbacks by the Trump administration.”
Journalist David Sirota tweeted, “Quick reminder: 50 Republican senators and 17 Democratic senators voted to ignore warnings and weaken risk regulations for Silicon Valley Bank. Donald Trump signed the bill into law. And now the bank is the 2nd biggest bank collapse in American history.”
The left’s blame game is nothing new. When Trump was in office, any “failure” was blamed on him, but any “success” was credited to former President Barack Obama. Now, liberals have changed their tune. Any economic failures under the Biden administration are “Trump’s” fault, but any positive economic news should be credited to Biden.
The truth is, Silicon Valley Bank’s collapse cannot be blamed on one person or party. It was a culmination of bad investments, wrong choices, and spreading themselves too thin. The left’s attempt to place the blame on Trump is nothing more than a political stunt.
In the end, it is important to remember that our country’s economic success or failure should not be placed on one person or party. It takes a collective effort from all parties involved to ensure our economy thrives. We should focus on finding solutions rather than playing the blame game.