Signature Bank, the firm that went under over the weekend, has an expert on its Board of Directors – Barney Frank. Barney Frank was the US...
Signature Bank, the firm that went under over the weekend, has an expert on its Board of Directors – Barney Frank.
Barney Frank was the US Rep behind the Dodd-Frank bill put in place after the 2008 bank crash. The government arguably caused the failure and then turned around and put in a massive amount of regulations in response to the failure.
The monstrosity was the Dodd-Frank bill, named in part for Barney Frank.
Frank left the House and was assigned to the Board of Signature Bank. This bank was little known until a couple of years ago when the bank decided to kick President Trump out of the bank by closing his accounts. This was a political move and it has now come back to haunt the bank.
Signature Bank was bailed out by the Biden Administration over the weekend. It must have been serious or it wouldn’t have been done over the weekend.
The great Barney Frank sits on the Board of Signature Bank and no doubt had a part in removing President Trump’s accounts. The bank board that was nasty in politics was apparently horrible in running the bank.
Bob Bishop shared on Twitter the relationship between Barney Frank and Signature Bank:
Does bailing out a bank even comply with Dodd- Frank?
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