Also worth noting that it appears Barney Frank helped the effort to nerf Dodd-Frank in 2018 [0] (although I haven't dug deeply into that and from the fact that 3 of the articles supporting this were added today, the wikipedia editor might be injecting a biased view).
While of course true for many reasons (including facilitating the existence of ransomware while providing literally no other offsetting value) that's not why the bank was shuttered. It was shuttered for the same reason SVB and Silvergate were closed. They had long-duration assets but needed capital now to facilitate withdrawals, which they had a lot of because of the crypto downturn. It was their lack of diversification and failure to adequately manage maturity risk. Which Barney is in part to blame. So of course the fingers are pointed in all directions, especially the gubmint.
> that's not why the bank was shuttered. It was shuttered for the same reason SVB and Silvergate were closed
Silvergate was significantly impaired by the crypto blow-ups [1]. That forced them to sell their short-duration, liquid holdings. It also started their stock-price slide [2]. The combination put them in a uniquely vulnerable and continuously degrading position. Signature wasn't as badly hit by the blow-up, but its stock started sliding with Silvergate. Perceptions matter, and when Silvergate folded, non-crypto depositors began pulling money from Signature.
Had Signature not banked crypto, or been publicly affiliated with it, they would have likely survived.
"Objective fact" lol please. Not an objective word in this sentence that you can back up with literally anything. Or we can just take your hyperbole and apply it to literally anything that has any negative sides to it.
Your sputtering rage and denial of the obvious is pretty illustrative of my point about crypto's toxicity and cultish obsessiveness.
Do you have any NFTs or ICOs or shitcoin rug pull scams you want to shill, or are you finally too embarrassed to do that in public under your own account because of the toxicity of crypto?
Why don't you prove it's not toxic by telling us how much and why you love and recommend crypto yourself, and explaining what it's actually good for?
[0] https://en.wikipedia.org/wiki/Economic_Growth,_Regulatory_Re...