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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsDonald Trump Is Breaking His Promise To Be Tough On Wall Street
President Donald Trump signed executive orders on Friday that halt the Obama administrations conflict of interest rule for retirement savings and order a review of the 2010 financial reform rules meant to make banks more stable and less likely to need bailouts.
Previously:
If there was ever doubt that President Donald Trumps tough talk on big banks was an empty show, his first 12 days in office have put it to rest.
Trump is governing like a run-of-the-mill, deregulating Wall Street crony, despite his populist campaign rhetoric: His partys platform pledged to return to the Depression-era Glass-Steagall Act, which broke up big financial institutions by separating investment and commercial banking; he vowed to close a tax provision that saves private equity managers billions of dollars; he lambasted his opponent for her ties to Goldman Sachs, and he assailed the banks CEO in an election ad.
On Monday, Trump made his first direct comments since his inauguration about the post-financial crisis bank regulation reform bill.
Dodd-Frank is a disaster, he said. Were going to be doing a big number on Dodd-Frank.
Tossing out Dodd-Frank would mean gutting huge swathes of rules restricting big banks, including intricate capital standards and the annual stress tests regulators use to make sure banks wont need to be bailed out to the independent Consumer Financial Bureau.
http://www.huffingtonpost.com/entry/donald-trump-wall-street_us_5890c587e4b02772c4e98b79?
CincyDem
(6,336 posts)And in other news, water is still wet.
He is such an asshat.
greatauntoftriplets
(175,729 posts)Wellstone ruled
(34,661 posts)the Dufus that is our President has only one agenda. And that is his personal agenda he makes up as he goes along. This sucker has the attention span of a gnat . So fasten your seat belt folks,we will be at War in Six months and the Streets will be full of Protesters by May.
Lanius
(599 posts)You know, the ones who pretended their support of Drumpf wasn't about racial resentment, xenophobia or white nationalism?