Ten Years After the Crisis, Banks Win Big in Trumps Washington

[turbinetree]

In early February, with the Treasury secretary testifying about wild gyrations in the stock market and the Federal Reserve leveling unprecedented penalties against Wells Fargo & Co., it may have felt like 2008 again, with the financial system under siege. In reality, banks are booming, at least in Washington.

As the 10th anniversary of the financial crisis approaches, many of the restrictions put in place to rein in Wall Street risk-taking are quietly being unwound. The Senate is considering legislation that would remove dozens of major banks from stepped-up oversight. The bill has broad Republican support and has been endorsed by 11 Democrats. In recent months a handful of the federal agencies that supervise financial companies have taken steps to revise two complex rules—one restricting trading and one requiring extra capital—that banks have long complained cost them millions of dollars in profits.

Other requirements are also being eased, including the stress tests the government uses to measure banks’ abilities to withstand economic shocks. Conducted by the Fed, the tests were widely credited with restoring public confidence in the financial system after the 2008 meltdown.

Banks and their once-embattled Washington advocates are cautiously acknowledging their return to good graces after years of fighting against what they argued was regulatory overreach. “It just feels good,” says Wayne Abernathy, an executive vice president for the American Bankers Association. Things “are looking up for the customers of the banks, looking up for the economy, and for the banks as well,” he says.

https://www.bloomberg.com/businessweek


What the fuck: " Banks and their once-embattled Washington advocates are cautiously acknowledging their return to good graces after years of fighting against what they argued was regulatory overreach. good graces mean after years "


Good graces my ass and looking up.............these assholes bankrupted over 10 million human beings based on fucking greed

[Wounded Bear]

1. And set for the next collapse...

[turbinetree]

2. And the peons only get a two year tax break...............oh boy

[duforsure]

3. More reasons to see its coming again

What they're doing is everything they can to funnel money into the 1%ers pockets, taken from ours via the treasury, only this time with their tax scam and the many other destructive things they're doing will make this one much worse than W's recession he and the Republicans created. Dt now is steamrolling ahead to start another war, then destroy all social programs, especially Social Security. He claimed drain the swamp, then has been doing the opposite, he's draining the treasury, and with the Republicans in Congress helping him now. Our economy will be an even greater disaster when it catches up to them, then watch how quickly they again blame others.

[turbinetree]

4. WE need to get out an VOTE, there are some really important elections going on

and the first one that comes to mind is Pennsylvania, where the pin head pence and the sexual predator went and was rooting for some jerk , while Conor Lamb has a really good shot of getting this Congressional Seat...........


I for one am on Social Security and Medicare, and I for one will dragged my hippie ass out into the streets if they go near those social safety net programs, and if any governor tries to force people to work for Medicaid, they should be impeached just like in Kentucky, they are sitting on there hands and letting that asshole force people to work for Medicaid...........that is outrageous