Seth Meyers views the dramatic collapse of Silicon Valley Bank as a tale of two presidents.
did “pretty much exactly what you’d want a president to do in this situation: Take immediate action [and] reassure Americans everything will be ok,” former POTUS Donald Trump did… the exact opposite., he has the tendency to overreact,” Meyers explained on Monday.
“I mean, fucking of course it was Trump,” he said. “Trying to figure out what went wrong in this country is turning into a super boring game ofwhere the weapon is always a pen and the killer’s always Colonel Ketchup… Basically, Trump repealed liquidity requirements that would have ensured mid-sized banks like SVB had enough cash on hand to weather a storm like this.”
Even worse, the host explained, Trump regularly, loudly, and proudly promoted the fact that he would be giving the Dodd-Frank Act “a very major haircut.” “How could you POSSIBLY think rolling back regulations on banks 10 years after a financial meltdown could ever be a good idea? Meyers demanded to know. “It’s like getting up at a podium and saying, ‘We’re finally going to ease the regulatory burden on our nation’s cannibals by allowing them to take off those muzzles. We love our cannibals. They’re job creators and I’m very confident that they’ll stick to their promise of only eating salads and—oh fuck, he’s got my arm.
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