Herr Trump is calling for a rollback of Dodd-Frank. Economic collapse here we come!

[LJ_Reloaded]

https://www.wsj.com/articles/trump-moves-to-undo-dodd-frank-law-1486101602/

Donald Trump Plans to Undo Dodd-Frank Law, Fiduciary Rule
White House adviser Gary Cohn says banks burdened by rules added after financial crisis

WASHINGTON—President Donald Trump on Friday plans to sign an executive action that establishes a framework for scaling back the 2010 Dodd-Frank financial-overhaul law, part of a sweeping plan to dismantle much of the regulatory system put in place after the financial crisis.

Mr. Trump also plans another executive action aimed at rolling back a controversial regulation scheduled to take effect in April that critics have said would upend the retirement-account advisory business.

“Americans are going to have better choices and Americans are going to have better products because we’re not going to burden the banks with literally hundreds of billions of dollars of regulatory costs every year,” White House National Economic Council Director Gary Cohn said in an interview with The Wall Street Journal. “The banks are going to be able to price product more efficiently and more effectively to consumers.”

Banking collapse 2.0 here we come!!!

 

[Wrong Element]

Finally, someone is giving the white working class what it has so desperately been clamoring for.

 

[BotanyBoy]

Finally, someone is giving the white working class what it has so desperately been clamoring for.

Awwww damn those evil white fuckers!! They are so horrible with their whiteness!!!

LMFAO

 

[Hard_Rom]

Canada suffered less during the banking crisis because we have just 5 major banks that are heavily regulated. Canada's big 5 are world class banks. Always looked up to for stability and profits. Up here we bitch about service fees but generally have complete confidence in their liquidity and stability. Strict banking regulations are the way to go. And big banks too that can take a hit or two and survive.

 

[hashtag46]

https://www.wsj.com/articles/trump-moves-to-undo-dodd-frank-law-1486101602/

Banking collapse 2.0 here we come!!!

My understanding of economics or law being 0,
what exactly does his measure mean?

That he'll allow banks to function unregulated so they'll probably rip people off again?
-- Or, given that the 2nd major worldwide 2008 -type economic crash is inevitable, he's doing this so that banks can make arrangements to emerge unscathed?
-- Or is it a good measure sortof, since these regulations were worthless/ inefficient a smoke-screen and costly for the budget? (because Obama was criticised for the fact that during his mandate there was a mini um no. of prosecutions of banksters, given the 2008).

I wish someone with such knowledge would ellaborate on the OP's post…

 

[M. Jordan]

My understanding of economics or law being 0,
what exactly does his measure mean?

That he'll allow banks to function unregulated so they'll probably rip people off again?
-- Or, given that the 2nd major worldwide 2008 -type economic crash is inevitable, he's doing this so that banks can make arrangements to emerge unscathed?
-- Or is it a good measure sortof, since these regulations were worthless/ inefficient a smoke-screen and costly for the budget? (because Obama was criticised for the fact that during his mandate there was a mini um no. of prosecutions of banksters, given the 2008).

I wish someone with such knowledge would ellaborate on the OP's post…

Hard to say without knowing the actual new regulations. However, the current market is showing the lowest rate of foreclosures and troubled properties since the early 2000's. We will see but, there is plenty to worry about.

 

[hashtag46]

Hard to say without knowing the actual new regulations. However, the current market is showing the lowest rate of foreclosures and troubled properties since the early 2000's. We will see but, there is plenty to worry about.

Thanks.

Liberals worry that Trump might institute some sort of 'hollocaust' against minority groups (women and people of colour), which imo is less likely.

I'm starting to wonder tho if Trump and Obama were just two brands of the same thing: people servicing the 1% instead of the little guy. And whether Trump is worse than Obama from this pov.

 

[M. Jordan]

Thanks.

Liberals worry that Trump might institute some sort of 'hollocaust' against minority groups (women and people of colour), which imo is less likely.

I'm starting to wonder tho if Trump and Obama were just two brands of the same thing: people servicing the 1% instead of the little guy. And whether Trump is worse than Obama from this pov.

A lot of books out there on this subject. Reckless Endangerment was dry but gave a long look back. I believe its always about money and those who have it. Virtually no one went to jail. I suppose that with the lax regualtions there was not enough to prosucute that way. Some fines were paid but, after such huge profits who cares, who wouldnt pay 100 mil to make a billion?

It will be about those who have money again too.

 

[LincolnDuncan]

They will just blame Barnie Frank again.

 

[Queertag45]

My understanding of economics or law being 0,
what exactly does his measure mean?

That he'll allow banks to function unregulated so they'll probably rip people off again?
-- Or, given that the 2nd major worldwide 2008 -type economic crash is inevitable, he's doing this so that banks can make arrangements to emerge unscathed?
-- Or is it a good measure sortof, since these regulations were worthless/ inefficient a smoke-screen and costly for the budget? (because Obama was criticised for the fact that during his mandate there was a mini um no. of prosecutions of banksters, given the 2008).

I wish someone with such knowledge would ellaborate on the OP's post…

Don't worry, AJ will be along shortly to tell you what to think.

 

[hashtag46]

Don't worry, AJ will be along shortly to tell you what to think.

Why shouldn't I accept what he says? Or "lick his boots", as you people keep saying?

He's far better than most who post here, as far as intellectual pursuits are concerned.
And my momma taught me to look up to intellectuals. And to be greatful towards those who are kind enough to share their knowledge.

 

[LJ_Reloaded]

Awwww damn those evil white fuckers!! They are so horrible with their whiteness!!!

LMFAO

Well they did bring this all upon themselves. Let 'em burn.