#shorts On 3/30/2023, during press briefing, a reporter asked White House press secretary Karine Jean-Pierre, ” the bank regulatory proposals the President directed towards the banking agencies today, it was made repeatedly clear that you guys — that the agencies have the authority under law to implement those without any congressional legislation. If that’s the case and if you’re attacking the former administration for rolling it back, why did it take until a crisis to decide that these are —

KJP: Well —

Reporter: — things that needed to be done?

KJP: Well, let me just say: Unfortunately, the Trump administration regulators weakened many important commonsense requirements and supervision for regional banks, like Silicon Valley Bank and Signature Bank, whose recent failures led to that — to — to that … because of what we saw done by the Trump administration back in 2018 —
Remember what happened in 2008 and what the Obama-Biden administration were able to do. They were able to strengthen some of those requirements, make it stronger. And the Trump administration rolled that back …

Reporter: No, I understand that. But experts were saying that before the Silicon Valley issues as well, that this was potentially problematic. And you guys have been in office — in office for more than two years. Why did you wait until now to send these suggestions?

KJP: So, a couple of things. Look, the Trump nominees had the supervision portfolio at the Fed for much of those past two years. So that’s one reason. The second reason is the Fed Vice Chair Ba- — Barr only arrived in July of 2022. That’s a — that’s another part of that.

other clips of this published longer video is here: https://youtu.be/xdV4V8d7nxA
Agencies have authority to implement those without any congressional legislation, you’re attacking former admin for rolling it back