The past month has been a volatile one for the banking sector, and its impact has been felt across the entire global economy.  On Friday, March 10, the Federal Deposit Insurance Corporation seized control of Silicon Valley Bank after a run on its deposits left it insolvent.  The next domino to fall was crypto-friendly Signature Bank, which shut down on Sunday, March 12.   While Credit Suisse has also since been absorbed by UBS, many lawmakers have criticized U.S. federal agencies' actions and pointed to rollbacks of consumer protections in the Dodd-Frank Act of 2018 as a primary contributor to the banks’ collapse.  The rollback lessened scrutiny for banks with less than $250 billion in assets, meaning the landmark, post-financial crisis law would only apply to a handful of big banks.  In today’s episode, Representative Barney Frank, the chief architect of that regulation, joins us to make light of the current situation.  Congressman Frank served in Congress for over 30 years until 2013. He spent four of those years as Chair of the House Financial Services Committee.  As one of the co-authors of Dodd Frank, Frank earned a reputation as one of the most outspoken members of Congress and authorities on financial regulation.  He also happened to serve on the board of Signature Bank when it collapsed, and before taking on his role at Signature Bank, personally advocated for the $250 billion threshold adjustment.  Listen along as Congressman Frank sheds light on the events of the past month, why he believes they did not represent a systemic failure, and why he believes business leaders need not adjust their banking approaches in the future.    

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