On Monday, Donald Trump stood before an audience in Iowa and blamed “wokeness” for the collapse of Silicon Valley Bank.

But it was more likely the 2018 law that he signed which gutted the Dodd-Frank federal regulations of smaller banks.

In 2017, Trump said of the regulation, “Dodd-Frank is a disaster. We’re going to be doing a big number on Dodd-Frank.”

But Dodd-Frank would have prevented much of the fallout that has occurred in the wake of SVB’s collapse.

Trump has been working overtime try to blame diversity and environmentalism for why the bank failed, but that’s not reality.

In Iowa, Trump defended the 2018 deregulation law, saying that banks were getting “eaten alive” by regulation prior to his action. He also blamed the Federal Reserve’s interest rate increases, telling reporters, “Interest rates are too high. Rates are very high. And that’s a problem.”

But data shows that the interest rate hikes have had very little effect on the majority of banks.

FDIC records show that 16 banks failed during Trump’s 4 years in office. Under Biden, 2 years into his Presidency, SVB is the first bank to fail.