White House budget envisions massive savings from Dodd-Frank rollback
Source: Reuters
Tue May 23, 2017 | 3:01pm EDT
By Pete Schroeder
May 23 U.S. President Donald Trump's proposed budget estimates that the federal government could save $35 billion over the next decade by rolling back regulations governing Wall Street.
The White House does not detail how those savings, which are equivalent to the annual economic output of the Democratic Republic of Congo, would be realized. But the administration said an ongoing review of existing financial rules “will likely result in proposals that will provide significant savings to the federal government.”
While it is not expected to be passed by Congress, the fiscal 2018 budget unveiled by the White House on Tuesday hews closely to Trump's view that slashing financial regulations would boost the economy. Treasury Secretary Steven Mnuchin is currently conducting a comprehensive review of the impact of the 2010 Dodd-Frank financial reform legislation. An initial report recommending policy changes is expected to come at the beginning of June.
The White House's projected savings from easing financial rules exceed estimates offered by the Congressional Budget Office. That policy scorekeeper calculated that $24 billion would be saved over a decade if a broad Dodd-Frank rollback bill currently in the House of Representatives were passed. Most of those savings identified by CBO come from eliminating a Dodd-Frank provision allowing the government to step in and wind down failing financial institutions, and by placing tighter control over the funding of the Consumer Financial Protection Bureau (CFPB), which was set up to protect consumers from predatory lending.
Read more: http://www.reuters.com/article/usa-budget-wallstreet-idUSL1N1IP1LZ
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Give back the Wall Street money-grabbers license to steal. 
Apparently everyone in the GOP has a very short memory. Well, Americans DON'T! 
And the Trumptards were POSITIVE Hillary was going to hand the government over to Wall Street. I wonder what the morons are thinking NOW? 
Eh, they won't care. If their hero is doing it, there must be a darned good reason for it, and ALL Americans will benefit from the carnage Wall Street will unleash upon the masses. They'll get THEIR fair share, right? 
The Donald wouldn't screw THEM over, right? 
