(Updates with Bloomberg Radio interview in bullet points at end. “What do you do if you’re a business and you’ve got to meet a payroll that’s in the hundreds of thousands or millions?” “I’m not talking about rich individuals’ pocket money,” he said. Barney Frank, original name Barnett Frank, (born March 31, 1940, Bayonne, New Jersey, U.S.), American Democratic politician who served in the U.S. should raise the insurance limit for business accounts, Frank said. Frank on large depositors: “They panicked, and fled,” because of Signature’s ties to crypto.“We didn’t cater to high tech - we catered to largely commercial lenders,” he said of Signature Bank.“We were singled out to be the poster child for that message.” The regulators “wanted to send a message to get people away from crypto,” Frank said.A few years ago, Frank asked Orner if he’d tell his story. Here are some additional comments from a Bloomberg Radio interview with Frank on Monday: Eric Orner is known for a comic strip, The Mostly Unfabulous Social Life of Ethan Green, which had a long run in the Washington Blade and other gay papers, but he’s also worked in politics, mainly for former congressman Barney Frank. “The negative consequences of that have been unfortunate for some people, but are not systemically problematic.” Barney Frank, the former congressman from Massachusetts who helped write the Dodd-Frank Act the legislation passed in the wake of the 2008 financial crisis with the intention of shielding the. The financial system is less vulnerable than it was back then, and while the crypto sector is hurting the banking industry, it won’t break it, he said. Frank himself is a board member at Signature Bank, which had been pulling back from digital assets, and he said clients may have overestimated Signature’s exposure to crypto. and the seizure of SVB Financial Group’s Silicon Valley Bank. Signature Bank was closed by New York state financial regulators Sunday in a shocking third banking collapse in a week, after the failure of fellow crypto-friendly bank Silvergate Capital Corp. “A new and destabilizing – potentially destabilizing – element is introduced into the financial system. Barney Frank admitted a lengthy relationship with a male hooker who ran a bisexual prostitution. “Digital currency was the new element entered into our system,” the 82-year-old Frank said in an interview Sunday. In a third blockbuster scandal, Massachusetts Democratic Rep. (Bloomberg) - Barney Frank - the former congressman known for the Dodd-Frank Act, which overhauled US banking regulation to prevent another global financial crisis - said there was one thing lawmakers and regulators didn’t reckon with back in 2008: cryptocurrencies.
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