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The collapse of financial institutions 15 years ago helped spark a political realignment that fueled populist movements across the ideological spectrum and bolstered the fortunes of politicians from Donald Trump to Bernie Sanders.
While the failures of Silicon Valley Bank and Signature Bank are unlikely to set off a similar upheaval, the closures have led to finger-pointing on Capitol Hill, much of it centered on a 2018 law that loosened some of the requirements of the Dodd-Frank banking overhaul passed in response to the 2008 crisis. The ’18 law, which eased capital requirements for midsize banks, was supported in the House and the Senate by moderate Democrats as well as Republicans and was signed by Trump.
