'An Abomination': Powell Cut Mention of Regulatory Failures From Bank Bailout Statement

Warren tweeted Friday that "the Fed chair's outrageous attempt to muzzle the rest of the government about his role in contributing to this current crisis is completely inappropriate—and it won't work."..

https://www.commondreams.org/news/powell-cut-regulatory-failures-mention

There’s a deeper story to Silicon Valley Bank’s failure. What can we learn from it? | Robert Reich | The Guardian

Once banking was deregulated, such a crash was inevitable. In the 1950s and 60s, when banking was boring, the financial sector accounted for just 10 to 15% of US corporate profits. But deregulation made finance exciting and exceedingly profitable. By the mid-1980s, the financial sector claimed 30% of corporate profits, and by 2001 – by which time Wall Street had become a gigantic betting parlor in which the house took a big share of the bets – it claimed a whopping 40%. That was more than four times the profits made in all US manufacturing.

https://www.theguardian.com/commentisfree/2023/mar/13/svb-collapse-2008-financial-crisis

The Next Financial Crisis Will Be Worse Than the Last One | Alternet

The system remains fundamentally unreformed, banks remain too big to fail.....
https://www.alternet.org/economy/next-financial-crisis-will-be-worse-last-one

The Trump administration is trying to trick people into thinking it's cracking down on Wall Street -- Business Insider

Treasury Secretary Steven Mnuchin sat in front of the Senate Banking Committee on Thursday and attempted to lay out how the Trump administration's position on various economic policies, including the regulation of large banks.

Mnuchin continually said that the administration supports a "21st Century Glass-Steagall," referring to the Depression-era bill that required commercial and investment banks to remain separate. Except for the law's defining aspect. ....
http://www.businessinsider.com/trump-mnuchin-glass-steagall-wall-street-bank-regulation-2017-5

Elizabeth Warren Slams 'Bizarre' Glass-Steagall Statements From Trump's Treasury Secretary

 The Trump administration showed its now routine sense for the absurd when Treasury Secretary Steven Mnuchin testified before the Senate Banking Committee on Thursday. ...
http://www.huffingtonpost.com/entry/elizabeth-warren-slams-bizarre-glass-steagall-statements-from-trumps-treasury-secretary_us_591f307ee4b03b485cb155cc?ncid=APPLENEWS00001

12 Glaring Omissions, Contradictions and Lies Bernie Sanders Spotted in Trump's Address

Former Kentucky governor Steve Beshear issued a formal Democratic response to Trump's address to Congress Tuesday. But the most blistering reply may belong to Vermont Senator Bernie Sanders, who took to Facebook shortly thereafter. "I wanted to say a few words about what [Trump] didn't say, because when you analyze the speech sometimes what is more important is what somebody does not say as opposed to what they actually say," he began.

Below are 12 glaring omissions, contradictions and lies Sanders spotted in Trump's address....
http://www.alternet.org/news-amp-politics/12-glaring-omissions-contradictions-and-lies-bernie-sanders-spotted-trumps-address