Banking Queen: Barney Frank’s Signature Bank Collapses

Joe Biden Comes to the Rescue of Trump's 'Go-to' Bank After SVB Collapse

www.newsweek.com

Trump's daughter, Ivanka Trump, was appointed to the bank's board of directors in 2011, a role she carried out despite the bank lending her family money. She reportedly stepped down from the position in 2013.

LOL

...despite the bank lending her family money.

That would explain it.

So wait Rein ... she left a decade ago and somehow this is her fault? And not the Banking Queen's fiscal mismanagement?

Interesting logic you have there. Very interesting.

Example #10,000 of ETTD.

Also Rein, I'd love to point out that you said she was booted after Jan 6th. That's two lies you've pedaled this evening.

----------, you lied by saying she was never a board member. That's typical.

That was after being called out for your first lie of claiming she was on the board when it collapsed. Embarrassing.

As well, I never claimed she wasn't on the board. I simply knew (unlike yourself apparently) that she wasn't on the board during the collapse. But the co-sponsor of Dodd-Frank was. Which is effing hilarious.

It's pathetic that you continue to deny Ivanka's board membership.

Rein please tell us all how Ivanka ruined a bank after being gone for a decade.

Trump's go-to bank goes ---- up after putting his favorite hosebag on the bank's board. Ouch.

Hey Rein, you made a claim. Now explain to everyone with facts how Ivanka Trump ruined Signature Bank. Especially with the Banking Queen overseeing what occurred their.

...despite the bank lending her family money.

And the Kushner family as well it seems. But that was in the pre-Saudi days.

@#13 ... Trump's go-to bank goes ---- up ...

Cough... Deutsche Bank ... well not ---- up, but close.

Now to the topic of this thread...

From the cited Washington Examiner article...

... he second bank to fail this month was New York-based Signature Bank, shuttered by regulators over the weekend. Signature Bank is a regional bank most notable because it had a famous former congressman as one of its directors: Barney Frank. Frank, a Democrat from Massachusetts, was not just any member of Congress. He was a moral leader of the Democratic Part...

Barney Frank was "a moral leader" of the Democrtic Party?

Huh?

Where did that statement come from?

Unlike SVB, there's not too much information on why this bank was closed, what caused it, what assets the bank were involved in besides customer deposits

Weird

Where did that statement come from?

From the pen of Timothy P. Carney, whoever he is.

@#17 . ... there's not too much information on why this bank was closed, what caused it, what assets the bank were involved in besides customer deposits ...

It seems that NY regulators shuttered the bank, not Feds.

Regulators close crypto-focused Signature Bank, citing systemic risk
www.cnbc.com

...New York state regulators on Sunday shut down Signature Bank

New York state regulators on Sunday shut down Signature Bank, a big lender in the crypto industry, in a bid to prevent the spreading banking crisis.

"We are also announcing a similar systemic risk exception for Signature Bank, New York, New York, which was closed today by its state chartering authority," the Treasury Department, Federal Reserve and Federal Deposit Insurance Corp. said in a joint statement Sunday evening....

Signature is one of the main banks to the cryptocurrency industry, the biggest one next to Silvergate, which announced its impending liquidation last week. It had a market value of $4.4 billion as of Friday after a 40% sell-off this year, according to FactSet....

The prominence of the word "crypto" in reference to Signature Bank may be a clue....

@#20

Perhaps that comment was referring to this...

Joe Biden Comes to the Rescue of Trump's 'Go-to' Bank After SVB Collapse
www.newsweek.com

...The Biden administration has come to the rescue of former president Donald Trump's "go-to" lender amid the turmoil following the failure of the California-based Silicon Valley Bank (SVB).

Regulators rushed to close SVB on Friday when it experienced a traditional bank run, as depositors rushed to withdraw their funds all at once.

Regulators then announced that New York-based Signature Bank had also failed and was being seized on Sunday.

Signature Bank became a "go-to" lender for Trump and his family after a relationship was initiated by Trump's former lawyer, Michael Cohen, The New York Times reported in 2018.

The bank helped finance the golf course at the Trump International Golf Club in Florida and provided the former president and his business with checking accounts, according to the Times....

Hope this helps...