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The Wall Street Journal editorial board on Monday called out President Biden for telling a host of “whoppers” regarding bank bailouts following the collapse of Silicon Valley Bank (SVB), including claims that Donald Trump is to blame.
Following the 2008 bank bailouts, one of the major pieces of legislation aimed at making sure such a thing could never happen again was the 2010 Dodd-Frank Act. The 849-page Act introduced 27,000 new regulations on the financial sector.
The Senate passed a bipartisan bill Wednesday that rolls back key components of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act.