Senator Elizabeth Warren has already made it abundantly clear that she blames the 2018 rollback of Wall Street regulations passed in the aftermath of the 2008 financial crisis for Silicon Valley Bank’s failure.
But she is not done pursuing the issue.
On Wednesday, the Massachusetts Democrat — who rose to national fame as an advocate for tougher rules for big banks following the 2008 crisis — sent a scathing letter to SVB’s former president and CEO, Gregory W. Becker, asking the former executive to detail his bank’s ultimately successful lobbying efforts to loosen regulations on midsize banks under the 2008 law known as Dodd-Frank.
“These rules were designed to safeguard our banking system and economy from the negligence of bank executives like yourself — and their rollback, along with atrocious risk management policies at your bank, have been implicated as chief causes of its failure,” Warren wrote.
Read the full letter below.