Republicans Cry “Wokeness” • WSJ Put on Blast • Cohen in the Hot Seat
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The Silicon Valley Bank Crisis Is Complicated. But Donald Trump’s Role in It Isn’t
Good morning from the Hive newsroom! It’s only Tuesday, and the week has already been painful for Silicon Valley, with Big Tech’s favorite lender, Silicon Valley Bank, having collapsed after a bank run that might spell mass closures and layoffs throughout the industry. Vigorous finger-pointing has already ensued—but few share as much blame as Donald Trump, opines Eric Lutz, who notes that the former president and Congress rolled back key financial regulations in 2018 that could have prevented the calamity.
Meanwhile, Caleb Ecarma reports that Republican lawmakers like Marjorie Taylor Greene and Ron DeSantis have attempted to pass the buck to “woke” corporate mandates around issues like diversity and sustainability, a line of attack that was echoed in a widely mocked Wall Street Journal op-ed Sunday, observes Bess Levin.
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The Silicon Valley Bank Crisis Is Complicated. But Donald Trump’s Role in It Isn’t
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In rolling back key financial regulations passed after 2008, the former president enabled SVB to take on risky investments that ultimately backfired.
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