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

a reply to: Swills
Why not, tRump and his pals made a fortune on the backs of others in the collapse, big Bonus's too! USA, USA, USA!

originally posted by: LumenImagoDei
a reply to: TruMcCarthy

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

Sorry, I didn't know you knew so little about business, I guess that's why you're a liberal.

Every regulation has a real world cost associated with it. It costs money to comply with regulations, to implement the reforms, to hire the lawyers to make sure you are complying etc. Who do you think is able to absorb these costs, big business, or small business? I'll help you out, it's big business. When the little guy can't afford these costs, they go out of business. Who do you think then picks up their market share? I'll give you a hint, it's big business. That is how they use regulation to keep the little guy down, and grow their own power.

originally posted by: LumenImagoDei
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.

God I love blanket statements.

Especially after what's been going on surrounding visa's.

a reply to: neo96

You seem to believe that anyone who disagrees with Trump is automatically an Obama supporter and ignores anything bad that he did.

Here's a little information for you: I don't like Obama any more than you do and believe he has damaged our country over the past 8 years.

a reply to: neo96

I can tell you love blanket statements, you use them all the time when talking about liberals. Thanks for owning up to it.

a reply to: Swills

I will give it to you that is a bad idea that Wall Street influences bills that are passed in congress when it comes to benefit them.

I will agree that Goldman Sachs is embedded in our government and not is not only under Trump, The legacy of FDR invited them into our politics and now they will forever hold a permanent seat within our government.

Something that you need to understand like it or not.

Now, only congress can repeal and OE and only congress makes laws, like already Xcathdra told you, Trump can not repeal laws with OEs.

Once a law is made and signed only congress can changed, but regulations can be repealed.

a reply to: TruMcCarthy

I'm not a liberal. Please stop assuming that anyone who disagrees with Trump is a liberal because that is ignorant and only shows your bipartisanship for what it is.

What specific regulations though? You keep saying 'regulations' in such a vague and general way that is impossible to tell which ones you're talking about.

a reply to: LumenImagoDei

No one is loosening the hold on anyone. This is directive to explore options. Dodd-Frank is still in effect.

Wall Street is in the business of making money by trading in real time. They would not even exist if they didn't make a profit. If they didn't exist, you wouldn't have a computer to access the Internet... which also wouldn't exist.

I'm really coming to believe the economic problems are the result of so many people worried more about these 'rich' are making than what they're making. If I am making a good living, why would I even care what someone else is making? If I'm not making a good living, stopping others from making money is not going to help me.

Here's a wild and crazy thought... how about we see what recommendations come out and what the Congress wants to do with them before we burn anybody at the stake?

TheRedneck

a reply to: LumenImagoDei

What exactly in the EO is in favor of banks ?

Quotes help.

a reply to: LumenImagoDei

What in the EO gives power to Wall Street ?

a reply to: TheRedneck

Fair point, we should see where this goes before we condemn it, we should also do the same before praising it as well.

If you don't think rich people have rigged the system in their favor (by paying favors) then I'd have to say you haven't been paying attention. I don't care how much someone makes as long as they don't let it affect others, but from what I've seen throughout my life the super rich use their wealth to help themselves while hurting everyone else.

So, will the banks loan me money for free like they have been getting?

originally posted by: MOMof3
So, will the banks loan me money for free like they have been getting?

That is NOT how it works.

Banks lend money they get from the FED.

The FED charges the bank.

The Bank charges the borrower.

Its not 'free' money with exception of the FED that pulls it of their rears from nothing.

a reply to: xuenchen

What in the EO gives power to small banks and businesses and allows for more competition?

Why would Wall Street be begging for less regulations when it will only hurt them by allowing more competition? They wouldn't want less regulations unless it helped them, and I promise you allowing for more competition is not helping them.

So why is Wall Street begging for something that will hurt their business in the long run? The answer is that they wouldn't.

a reply to: LumenImagoDei

It comes back to regulations, it may not be Wall Street the one asking for deregulation, after all, right?

a reply to: neo96

How does the bank pay back more than it has though? Every single dollar that is printed comes with debt attached to it. How can a bank pay back their debt when there is more debt than money? They can't, meaning the FED gives them money knowing they won't be able to pay it back (free money).

originally posted by: LumenImagoDei

What specific regulations though? You keep saying 'regulations' in such a vague and general way that is impossible to tell which ones you're talking about.

If you really want to know how Dodd-Frank is hurting small banks and helping big banks consolidate their power, read this article from Forbes:

www.forbes.com...

a reply to: LumenImagoDei

So you haven't actually read the EO.

Great.

a reply to: LumenImagoDei

Fair point, we should see where this goes before we condemn it, we should also do the same before praising it as well.

I completely agree. Right now there is nothing to condemn anyone for, unless you consider asking for suggestions for improvement a sin somehow.

I don't think you do.

The big banks caused a lot of misery during the housing market crash. There should be common sense regulations in place to prevent that. But too often lately, those same regulations the people cry for contain loopholes stated to protect 'small business' that wind up doing the opposite. Big businesses have lawyers on staff to do nothing but figure out how to use these loopholes for their own self-interest, while small businesses can't afford to do that... in the end, they just allow big business to starve out small business and avoid the most effective regulation known to mankind: competition.

TheRedneck

a reply to: marg6043

If Wall Street accepts deregulation then it is only because it helps their business out. If they accept it then more competition couldn't possibly be the outcome otherwise Wall Street would have fought it.