Senator Coons statement on Silicon Valley Bank [Annotated]
WILMINGTON, Del. – U.S. Senator Chris Coons (D-Del.) issued the following statement on Silicon Valley Bank: [After a 48 hours campaign of harassment by some dumb blogger, I have decided to bless you peons with my beautiful thoughts]
“I commend the Biden administration’s swift actions to address challenges posed by the closure of Silicon Valley Bank and Signature Bank and to shore up our banking system as a whole. [I have heard from my billionaire CEO peers, my true constituents, and they approve of Biden’s plan.]
After being briefed by officials from the U.S. Treasury Department, Federal Deposit Insurance Corp., and Federal Reserve over the weekend, I am significantly reassured about the path forward. [I am a very important person, that’s the key message I am trying to get into your dumb heads.]
Their solution ensures depositors have ready access to their funds and taxpayers will not have to shoulder the financial burden. [I’m going to go along with the fantasy that these are not taxpayers funds.]
The administration’s actions should give all Delawareans confidence that their federally insured deposits are safe and that our banking system is resilient. [My CEO peers assure me that we’ll all be back to making money off you suckers in very short order.]
I will continue working with my colleagues to explore what additional steps, if any, we may need to take to further strengthen our financial system.” [I’m dying to extol the virtues of “bi-partisanship” in closing by my staff has threatened to quit if I do. Also in closing, if you expected me to admit that my votes to gut Dodd-Frank were flat wrong and resulted in the exact type of bank failures that many anticipated, you are hilarious.]
The Senate really is awful.
A seat in the US senate is a lifetime sinecure because senators can just ignore their crappy votes and let them fade from view in the long interval between elections.
https://www.vox.com/business-and-finance/2023/3/13/23638655/silicon-valley-bank-trump-fdic-banking-law
Senator Carpet….
Yes…
How do I get out of this net?
Why does he think most Delawareans were threatened by the failure of this crooked bank? The “banking system as a whole” was under no threat.
And why is he questioning whether further steps are needed? Why isn’t he calling for tighter regulation?
These are rhetorical questions.
Carper, Coons and Blunt-Rochester all voted for Trump/McConnell gutting of Dodd/Frank. Delaware has always been a Banking State even before Pete DuPont brought his banking get rich quick changes to Delaware during his two terms. Instead of fighting with our congressional stooges, let’s kick them in the ass and get a petition signed to really stick it to these lackeys. We are not going to take this shit anymore.
A blue state supporting Trump legislation and big banks. Fuck that!
When craper was govenor he used to say the state was built on the 5 C’s – chickens, cars, chemicals and credit cards. the cars are gone, the chemicals are gone and we have a couple banks. as for the chickens, they still reside in the state legislature
Unfortunately the chemicals are still here.
Like the way you think Arthur and a great quote as well.
Well, Jason, you have the answer to your poll question, straight from the quislings who voted for it: Fuck no!
Headline: Democrats Who Supported Trump’s Bank Deregulation Don’t Regret It
https://www.huffpost.com/entry/silicon-valley-bank-trump-democrats_n_64111390e4b00c3e6070c34c
Well…They couldn’t get the paragon of courage in his convictions, Chris Coons, to comment. *smh*
Golly! I wonder what went wrong? Yeah, let’s study it.