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Donald Trump Says He Would Dismantle Dodd-Frank Wall Street Regulation

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posted on May, 22 2016 @ 06:16 PM
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fortune.com...



Republican presidential candidate Donald Trump said on Tuesday that sweeping financial reforms put in place under President Barack Obama were harming the economy and he would dismantle nearly all of them.

Trump told Reuters in an interview that he would release a plan in about two weeks for overhauling the 2010 financial regulatory law known as Dodd-Frank.

“Dodd-Frank has made it impossible for bankers to function,” the presumptive Republican nominee said. “It makes it very hard for bankers to loan money for people to create jobs, for people with businesses to create jobs. And that has to stop.”

Pressed on the extent of the changes he wanted to make, Trump said, “it will be close to dismantling of Dodd-Frank.”


And there you have it folks, Trump will give Big Banks exactly what they want, no regulation. Let's be honest, Dodd Frank isn't all that it's crack up to be and is very weak in it's present state but it was born out of our economic recession brought to us by Wall Street. So instead of revamping it he wants to get rid of it altogether with nothing to take it's place.

So I'll take this as Trump is now a Wall Street lackey, apart of the establishment and I'm sure in the near future now that he is accepting money from everyone and anyone we'll see the Big Banks and corporations funneling money to both him and Clinton.

Looks like this cycle is another Win Win for the elite, brought to you by two elitist.
edit on 22-5-2016 by Swills because: (no reason given)




posted on May, 22 2016 @ 06:17 PM
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a reply to: Swills

Dodd-Frank has only made the big banks bigger and harder for local or regional banks to lend money to the people who actually qualify for the loans. It needs to go or at minimum be dramatically overhauled. It did the exact opposite of what it was intended.






edit on 22-5-2016 by AugustusMasonicus because: Ph'nglui mglw'nafh Cthulhu R'lyeh wgah'nagl fhtagn



posted on May, 22 2016 @ 06:21 PM
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a reply to: AugustusMasonicus

I agree and we can thank that on politicians and lobbyists for weakening it but at least it's something. Lets see, the only candidate holding Wall Street accountable for their wrong doings is Sanders. Clinton talks a good game but we all know she panders to anyone who can vote for her and we all know shes is completely bought and paid for.

Wall Street needs to be regulated because clearly they continue to commit white collar crimes and they're only consequence is a fine imposed by Uncle Sam, which I view as just a bribe. A Trump presidency will bring no revamped system, just scrapping it. Of course, he can change his tune tomorrow because no one flip flops more than Trump. He's the best flip flopper, the greatest!


edit on 22-5-2016 by Swills because: (no reason given)



posted on May, 22 2016 @ 06:24 PM
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a reply to: Swills

Dodd-Frank does not hold Wall Street accountable, it punishes small and mid-size banks while allowing the bigger banks to grow in direct conflict with the bill's stated intentions. This is pretty much indisputable.



posted on May, 22 2016 @ 06:26 PM
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originally posted by: AugustusMasonicus
a reply to: Swills

Dodd-Frank has only made the big banks bigger and harder for local or regional banks to lend money to the people who actually qualify for the loans. It needs to go or at minimum be dramatically overhauled. It did the exact opposite of what it was intended.







To be replaced by NOTHING.

And then the big banks will continue with the destruction of the US economy like they did in 2007-8.

With a divided country what did you expect the congress to pass in 2007-8 a perfect bill?

What would you replace it with, NOTHING?



posted on May, 22 2016 @ 06:28 PM
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Trump is proving everyday he is and will be a nightmare of immense destruction.


Giving him power is like giving power to a child or madman.


He will wreck havoc



posted on May, 22 2016 @ 06:28 PM
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Even so, do we expect to see anything to replace or improve it under a Trump presidency? I would suggest not holding ones breath.



posted on May, 22 2016 @ 06:29 PM
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originally posted by: Willtell
What would you replace it with, NOTHING?


Glass-Steagall worked well enough for many decades until it was repealed. Dodd-Frank is useless and only punishes smaller local banks.



posted on May, 22 2016 @ 06:30 PM
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a reply to: TerryMcGuire

He provided no details so I cannot comment on what his intentions are or the feasibility of them.



posted on May, 22 2016 @ 06:38 PM
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a reply to: AugustusMasonicus

Really? Because that's not what I've always been led to believe. You're saying it punishes small banks and has no effect on the Big Banks?



posted on May, 22 2016 @ 06:38 PM
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Do you people honestly think a GOP congress and president would do anything for anybody save the elite?


Sure just what Bush did


Furthermore, No US congress will pass powerful laws against the big banks.

Even if Bernie were president it would be a worst grid lock than Obama

We only got something through( Obama-care and Dodd-Frank) very half-ass programs, when there was a democratic congress.

THE GOP WILL DO NOHTING!

Maybe finish what Bush Stared to do: destroying the country




edit on 22-5-2016 by Willtell because: (no reason given)



posted on May, 22 2016 @ 06:38 PM
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As usual, he cannot single-handedly DO anything, but he can start the discussion. Dodd-Frank is a nightmare of do-gooder legislation (key point: legislation) that has not accomplished what was intended. For Trump to call it out is appropriate.



posted on May, 22 2016 @ 06:39 PM
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a reply to: Swills

The intention of this bill to prevent a repeat of the 2007-08 financial crisis. The banks are just as big, if not bigger than they were while smaller, local banks are hamstrung in their efforts to lend money.





edit on 22-5-2016 by AugustusMasonicus because: never go in against a Sicilian with death is on the line



posted on May, 22 2016 @ 06:40 PM
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a reply to: AugustusMasonicus

Yeah we can thank Bill Clinton for that repeal! With that gone the Big Banks ran a muck and from my understanding came DF.



posted on May, 22 2016 @ 06:41 PM
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originally posted by: Swills
Yeah we can thank Bill Clinton for that repeal! With that gone the Big Banks ran a muck and from my understanding came DF.


Well, to be fair we can thank him and the Republican controlled Congress. Lobbying at its best.



posted on May, 22 2016 @ 06:41 PM
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originally posted by: AugustusMasonicus

originally posted by: Willtell
What would you replace it with, NOTHING?


Glass-Steagall worked well enough for many decades until it was repealed. Dodd-Frank is useless and only punishes smaller local banks.


Glass Steagall is gone and unlikely to come back.

Only Bernie is supporting bringing that back

Were talking about what can get done under a divided government



posted on May, 22 2016 @ 06:42 PM
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a reply to: AugustusMasonicus

Exactly, DF was supposed to reign in the outlawish Wall Street but in it's present form doesn't do much and like I said, we can thank corrupt politicians for making it weak and lobbyists for pushing their agendas. So it clearly needs to be revamped or replaced with a better system. Does Trump want that or does he just want to scrap it and put nothing in it's place? He probably has nothing to replace it, that would be my guess.



posted on May, 22 2016 @ 06:43 PM
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originally posted by: Willtell
Were talking about what can get done under a divided government.


Little if anything. A President Sanders should expect even less cooperation from the Congress than Dear Leader received.



posted on May, 22 2016 @ 06:43 PM
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a reply to: AugustusMasonicus

Of course, we can't forget the Repubs which continues to show ya politicians no matter what camp they hail from all work for their donors, not for the country.

Instead of scrapping DF, we should scrap money controlling politics.



posted on May, 22 2016 @ 06:44 PM
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Is anyone going to answer the key question?

How do you get anything substantial done with a divided government and one side, the GOP, doesn’t want to do anything?


The silence is deafening.



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