Trump to dismantle Dodd-Frank Wall Street rules through executive orders

a reply to: BlueAjah

So let's give power to Wall Street instead? I'm not sure how that's any better, might even be worse seeing as how Wall Street had to make backroom deals before, now they can do it freely and without any repercussions.

People do know that Wall Street is a huge contributing factor in the corruption of our government, right? They're the ones who pay those corrupt politicians' bills.

a reply to: neo96

Never said GS was the only one involved but they are guilty, bigly guilty. Having more than one Wall Street institution responsible isn't a good thing Neo. I'm not gonna watch your video but I'm sure you're blaming Democrats because Republicans can do no wrong in your eyes.

a reply to: Swills

Trump's EO is an order directing the Treasury secretary to review the law.
There were no laws changed.

This is likely based on all of the challenges regarding the constitutionality.
Maybe it just needs revision.

a reply to: neo96

Just like we all loved it back in 2007?

Of course you would think those were the good days. Do you work on Wall Street by chance? Serious question.

The banking regulations of Dodd-Frank helped the big banks consolidate power. Smaller, more local community banks amd lenders couldn't comply with all the regulations, and went out of business. But the big banks had the lawyers, money and connections, and as such they have thrived at the expense of the little guy. As usual, the rich and powerful use government regulation to strangle the little guy and grow their own power.

a reply to: TruMcCarthy

So giving these big banks fewer regulations and rules will diminish their power how?

originally posted by: Swills
a reply to: neo96

Never said GS was the only one involved but they are guilty, bigly guilty. Having more than one Wall Street institution responsible isn't a good thing Neo. I'm not gonna watch your video but I'm sure you're blaming Democrats because Republicans can do no wrong in your eyes.

I know. I mean actually bother to listen to what they say would create a problem for this thread.

Intellectual dishonesty must be pushed at all costs.

Just like we all loved it back in 2007?

And ?

The market is cyclical.

It goes up and it goes down.

Just like it's suppose to.

Last I heard the market hit 20,000 and Gates got richer,Zuckerberg got richer, and Buffet got richer.

Thanks to that guy named Trump.

a reply to: LumenImagoDei

Fewer regulations allow smaller businesses to grow and compete, hence breaking up the monopoly big business has.

a reply to: neo96

Yay! Trump is making already-rich people even richer!

Problem is, rich people don't represent the majority of Americans. How exactly is making rich people richer helping the middle class?

a reply to: Xcathdra

Yeah, we know. You know. But the GOP led Congress won't oppose them either. They'll embrace them and I'm sure will sit quietly by and just let the federal agencies figure it all out, I'm sure.

Why's he even using so many EO's in the first place? Just tell the GOP what you want and they'll do it.

a reply to: LumenImagoDei

Because they will have more competition - from smaller community banks.

a reply to: TruMcCarthy

What do you think these big banks will do with those fewer rules and regulations? Finally start playing fair? Lol.

a reply to: BlueAjah

In what way will that happen though? Any specifics on the changes that would lead to more competition? Or are you just saying that because that's what you want to believe?

a reply to: LumenImagoDei

It will allow smaller businesses to have an opportunity to grow and compete. Big business uses government to manipulate the rules in their favor. That is what's not "fair".

a reply to: LumenImagoDei

O god you people are so shallow and simple minded. How about listening to what some people here have been trying to point out to you. You keep parroting the same thing over and over clearly showing you have no interest in any insight if it does not support your dreams of trump being bad bad bad.

a reply to: Swills

Dood Frank was useless and a waste of money. They need to reinstate Glass Steagle that Bill Clinton repealed that regulates the derivatives market.

a reply to: TruMcCarthy

In what way though? You say it will allow for more competition yet you don't say how.

You don't think fewer regulations on Wall Street will help them? If it does help them then what makes you think they haven't used Trump to manipulate the rules in their favor this time?

Wall Street has been begging for fewer regulations for years now, now they may finally get it thanks to Trump.

Big business is only bad when Trump isn't involved I guess? That's what it sounds like from your comments thus far in this thread.

a reply to: LumenImagoDei

The small banks have been getting wiped out in recent years.
The large banks keep buying up the smaller banks and each other, resulting in few choices for consumers.

As mentioned above - the large banks are the only ones that can survive, because it is too expensive for smaller banks to maintain because of the regulations.

Of course there should be regulations, but what they have done with Dodd-Frank does not work.
It gives all of the power to large rich banks.
It is smart to review the laws to see if it can be refined to allow small banks to compete.

As for how it leads to more competition, it is simple economics.
If more community banks open, the big banks must compete for customers.
That works for all of us. More banks competing for customers means they will need to offer good rates, etc.

originally posted by: LumenImagoDei
a reply to: neo96

Yay! Trump is making already-rich people even richer!

Problem is, rich people don't represent the majority of Americans. How exactly is making rich people richer helping the middle class?

Well I guess he should have created the capital gains medicare surtax so the middle class is triple taxed.

Like the last guy did.

a reply to: everyone

No, I only see what Wall Street has done over the years and use that information in my judgement of this bill/request.

Loosening the hold on Wall Street is a bad idea going by their record. I can't just sit here and ignore history in favor of wishful thinking, sorry if that bothers you.