Sen. Elizabeth Warren: 'I wish I'd been wrong' predicting SVB collapse

Sen. Elizabeth Warren
(Image credit: Tom Williams/CQ-Roll Call, Inc via Getty Images)

Sen. Elizabeth Warren (D-Mass.) wrote a scathing opinion essay for The New York Times on Monday, saying "we know who is responsible" for last week's stunning collapse of Silicon Valley Bank and ensuing financial fallout.

"In the aftermath of the 2008 financial crisis, Congress passed the Dodd-Frank Act to protect consumers and ensure that big banks could never again take down the economy and destroy millions of lives," wrote Warren, whose political reputation has been predicated in large part on fighting corporate greed. That law, however, was defanged in 2018 under then-President Donald Trump following intense lobbying pressure from various Wall Street and banking interests including, Warren pointed out, "Greg Becker, the chief executive of Silicon Valley Bank."

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Rafi Schwartz, The Week US

Rafi Schwartz has worked as a politics writer at The Week since 2022, where he covers elections, Congress and the White House. He was previously a contributing writer with Mic focusing largely on politics, a senior writer with Splinter News, a staff writer for Fusion's news lab, and the managing editor of Heeb Magazine, a Jewish life and culture publication. Rafi's work has appeared in Rolling Stone, GOOD and The Forward, among others.