U.S. Sen. Elizabeth Warren (D-MA) has some thoughts on the collapse of Silicon Valley Bank, which she shared both on social media and in a CNBC interview posted on Twitter March 15. Some may find it quaint, but it's catchy -- "banking should be boring."
"I love the fact that there are people in this country who want to get out there and take a risk," Warren said. "And they want to say 'I could win big when I take those risks.' That's great, but they should not go into banking."
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She continued, "Banking should be boring. Banking is about making sure money's there. Every small business that wants to deposit money into a bank needs to know the money will be there when it comes time to make payroll or pay bills. That's what banking is about."
And in Warren's opinion, the big risk-takers have plenty of places to take their skills. "The big risk-takers, they need to go into one of a million other places in this economy, not banking."
Sen. Warren has shared her views more extensively via her Twitter account and an opinion piece for the New York Times. She points to Dodd-Frank banking regulations that were rolled back during the Trump administration.
Her new unofficial slogan in response to the potential banking crisis is to "make banking boring again"-- a bit of a riff on Trump's 2016 election campaign slogan.
