We discuss the collapse of Silicon Valley Bank and Signature Bank, and the role the banking industry and its lobbyists play in weakening regulations.
On this edition of Call’s Media Roundtable, we discuss the collapse of Silicon Valley Bank and Signature Bank and the role the banking industry and its lobbyists play in weakening regulations.
Every federal lobbyist that has registered to work on behalf of Silicon Valley Bank swung through the revolving door between the federal government and private sector, according to OpenSecrets. They also found that the cryptocurrency industry vastly expanded its political influence web with federal lobbying spending exploding to a whopping $21.6 million in 2022.
Before Silicon Valley Bank’s failure, its former CEO Greg Becker backed two tech industry lobbying groups that tried to influence the Dodd-Frank financial reform law and pushed to cut corporate taxes, according to records reviewed by CNBC.