Did financial deregulation lead to the collapse of SVB?
- Former Sen. Byron Dorgan is calling on Congress to restore Glass Steagall
- Banks should not engage in riskier investments like securities
- Americans need to know money is safe, said Dorgan
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(NewsNation) — Former Sen. Byron Dorgan was an early champion of financial regulations. He told NewsNation that deregulation of the financial industry played a role in the collapse of Silicon Valley Bank.
Dorgan is calling on Congress to strengthen regulations and crack down on practices like credit default swaps and risky investing in securities to protect people’s money.
