Barney Frank

Wednesday

Matthew Foldi

Maxine Waters spews up ‘dog whistle’ talking points at SVB hearing

Democrats are taking today’s Silicon Valley Bank and Signature Bank hearing seriously. So seriously that they circulated an emoji-filled document of suggested tweets that they would like for committee members to post. The saddest part is that one of those committee members then repeated those talking points almost word-for-word at the hearing. “Democrats 👏 the decisive action taken by the Biden administration in a critical moment to restore confidence in our banking system,” the Financial Service Committee Democrats circulated in a memo obtained by The Spectator this morning.

maxine waters talking points

Thursday

John Steele Gordon

The last banking crisis and its architects, Dodd and Frank

The Dodd-Frank law, enacted in 2010 following the financial crisis of 2007-08, was named for two of its chief architects, Senator Chris Dodd, Democrat of Connecticut, and Representative Barney Frank, Democrat of Massachusetts. It's ironic that both had been involved, politically or personally, in exactly what had caused the financial crisis in the first place. In the 1930s, only about 10 percent of American non-farm families owned their own homes. But that began to change with the New Deal. The Federal Housing Administration was established in 1934 to guarantee mortgages, making banks much more willing to initiate them.