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William D. O'Connell, Postdoctoral Research Associate, Center for Political Economy, Columbia University

Why weakening U.S. bank regulators could repeat the mistakes of the 2008 financial crisis

FDIC Donald Trump DOGE Silicon Valley Bank Insurance OCC Stock Market United States

As United States President Donald Trump’s tariff announcements wreak havoc on stock markets, concerns are mounting over the possibility of a global financial crisis.

These concerns have intensified amid reports that the Department of Government Efficiency (DOGE), headed by Tesla founder Elon Musk, has set its sights on the Federal Deposit Insurance Corporation (FDIC) — the U.S. agency responsible for protecting deposits and administering bank insolvencies.

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