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President Trump to Change Great Recession Financial Reform
by Countable
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  • Shaun

    Trump isn't unilatteraly repeaking Dodd-Frank. He's charged his treasury secretary with reviewing the current regulations and providing recommendations on how to modify or replace it so that we can have the same safe guards but still allow banks to make aggressive decisions that could help stimulate the economy. Again, this is an EO to get the ball rolling. He hasn't gotten rid of anything. The quote from Forbes states, "The executive order, released late in the day, offered broad principles to foster economic growth, vibrant markets and enable U.S. corporations to compete with foreign counterparts. It further characterized the prevention of taxpayer bailouts and a restoration of public accountability within federal financial regulatory agencies as priorities. Trump directed his Treasury Secretary nominee to draft a report within 120 days identifying laws, treaties and regulations that conflict with his principles." So no, he's not getting rid of anything. He's asking for feedback on it so he can get a bill through congress. Additionally, Mnuchin has already stated that we need a 21st centurt version of Glass-Steagal. A plan that would provide even further protection for consumers as it requires banks to separate commercial deposit banking from investment banking. Read before you react people.


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