'President Trump and congressional Republicans' decision to roll back Dodd-Frank's 'too big to fail' rules for banks like SVB—reducing both oversight and capital requirements—contributed to a costly collapse,' said SenWarren.
"Contagion, likely more bank failures, and various bailouts are almost certainly coming."
"The chickens came home to roost this week in the Republican war against Wall Street reform and consumer financial protections," Zelnick continued. "This predictable disaster should give serious pause to the current MAGA House majority who are pursuing further rollbacks of consumer financial protections after taking money hand over fist from Wall Street banks—but don't count on it.
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