Trump to dismantle Dodd-Frank
Trump’s transition team says getting rid of Dodd-Frank is high on the agenda.
Click here for reuse options!A section devoted to financial regulations on his official transition website makes clear President Trump would work to undo President Obama’s landmark Wall Street regulation law.
“Federal policy should focus on free enterprise, while protecting consumers by policing markets for force and fraud,” the website stated. “The Dodd-Frank economy does not work for working people. Bureaucratic red tape and Washington mandates are not the answer. The Financial Services Policy Implementation team will be working to dismantle the Dodd-Frank Act and replace it with new policies to encourage economic growth and job creation.”
Trump had criticized Dodd-Frank on the campaign trial but never offered a specific plan for what he would want to do regarding financial regulation if he were elected.
The website does not delve into specifics, either about what parts of Dodd-Frank will be targeted or what policies could be put in place to replace it. And specifically, one policy item not mentioned was a return of the Glass-Steagall Act. That law, repealed in the late 1990s, created a firewall between traditional banking and investment banking.
Copyright 2016 Liberaland
44 responses to Trump to dismantle Dodd-Frank
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Larry Schmitt November 11th, 2016 at 09:02
This is the beginning. All the regulations that make any attempt to protect consumers will be eliminated. EPA, CFPB, any other alphabet agencies you can think of, will be done away with. No more clean air, unregulated banks, no unions. The good old days of the 90’s. The 1890’s.
Warman1138 November 11th, 2016 at 09:05
From first world to third world with a stroke of a pen. The constitution will be next.
crc3 November 11th, 2016 at 10:14
At some point WE THE PEOPLE must put a stop to this fascist movement and if this means some people have to die to stop it so be it….
fahvel November 11th, 2016 at 10:17
some point is now!
crc3 November 11th, 2016 at 10:55
I’m on board even as old as I am. My aim is good!
Gina Bousquet November 11th, 2016 at 12:17
:)
Anomaly 100 November 11th, 2016 at 16:02
Please stop this sort of talk here. Thanks!
Gina Bousquet November 11th, 2016 at 11:53
Tu m’as fait sourire. :)
Gina Bousquet November 11th, 2016 at 11:50
Who would ever believe, the US run by third world polítical gangsters.
Warman1138 November 11th, 2016 at 12:06
Russia is.
Gina Bousquet November 11th, 2016 at 12:11
Rússia has a troubled History and lacks the Democratic tradition the US has…
Warman1138 November 11th, 2016 at 12:15
True but any nation can be taken over by infiltrated/voted/appointed/approved organized criminals
Gina Bousquet November 11th, 2016 at 12:16
Democratic Institutions when strong can prevent that. You have them.
Warman1138 November 11th, 2016 at 12:21
Yes and they have to stay strong. An interesting side note, Chinese citizens have remarked that over the years a lot of our political people sound more and more like theirs……empty promises or the opposite of what they say.
Gina Bousquet November 11th, 2016 at 12:26
That might be a correct assessment.
Gina Bousquet November 11th, 2016 at 11:53
They wouldn’t dare!
Warman1138 November 11th, 2016 at 12:02
Yeah they would, numerous times in the past eight years the right has called for changes or eliminations in the constitution.
Gina Bousquet November 11th, 2016 at 12:06
They’ll be the longest four years in the country’s History.
Warman1138 November 11th, 2016 at 12:08
And maybe the last, demagogues don’t like to give up power.
Gina Bousquet November 11th, 2016 at 12:13
I don’t believe in a US dictatorship, that’s a stretch. :)
Warman1138 November 11th, 2016 at 12:24
All they have to do is repeal the term limits and with cooperative branches of gov. push and pull in the right places to do so.
Gina Bousquet November 11th, 2016 at 12:27
Not that easy, you’re not South America.
Warman1138 November 11th, 2016 at 12:28
No we’re not and it wouldn’t be easy but it’s possible.
crc3 November 11th, 2016 at 12:45
Right now term limits should be the least of our worries (although it is important). We should be more worried about all of the good work that Obama did, Social Security, Medicare and Medicaid all could be wiped out…
crc3 November 11th, 2016 at 12:24
If I’m leaving this world I’m apt to take a few of them with me!
Warman1138 November 11th, 2016 at 12:26
The Stephen King movie, The Dead Zone.
Suzanne McFly November 11th, 2016 at 10:16
Sad thing is, we will now have to convince trump supporters that deregulation of the banks is bad. Allowing industry to dump their waste in our rivers is bad. Not running trials on pharmaceuticals is bad. Denying workers protections is bad….amazing what these types have allowed themselves to over look in order to vote for the big orange giant.
Larry Schmitt November 11th, 2016 at 10:21
It’s not the supporters that have to be convinced, it’s Congress. Since a lot of these things were done by presidential decree, they can be undone the same way, unless Congress steps in to prevent it. I just made myself laugh.
Suzanne McFly November 11th, 2016 at 10:24
Well, it is better to laugh than cry IMO.
crc3 November 11th, 2016 at 12:37
Almost everything Rump will do will be dictated by special interests and Congress. Rump will just be a puppet of the masters because he has no clue how government works. Neither does he know the Constitution…Bill of Rights…or even the Declaration of Independence. This fascist regime needs to be stopped DEAD in it’s tracks before it’s allowed to grow and flourish….
Buford2k11 November 11th, 2016 at 10:53
we have gone from the American Dream, to the American Nightmare….what have we done?
Warman1138 November 11th, 2016 at 12:05
Underestimated how gullible people are and how low the right will go, that’s why the fairness doctrine was eliminated among other things.
Gina Bousquet November 11th, 2016 at 12:29
I’m so sorry dear friend, the American People don’t deserve that.
Mike November 11th, 2016 at 12:33
It’s gonna be a brutal 4 years ….
Gina Bousquet November 11th, 2016 at 12:36
Well said.
crc3 November 11th, 2016 at 12:48
In this great American tragedy what are the Dems in Congress going to do? Are they gonna filibuster or just sit on their hands and let the fascists have their way uncontested? We The People have a right to know…NOW!!!
Bunya November 11th, 2016 at 14:05
As usual, the democrats will bend over and take another reaming from the GOP. They’re way too willing to concede on everything. I can’t remember the last time the republicans in congress caved to the democrats (if ever).
R.J. Carter November 11th, 2016 at 14:06
PPACA ring any bells?
Bunya November 11th, 2016 at 14:08
Does the Iraq war ring any bells? How about NAFTA?
R.J. Carter November 11th, 2016 at 14:21
Sure! As I recall, the outgoing candidate voted for the former, and her husband signed into law the latter.
Bunya November 11th, 2016 at 14:44
Which proves my point, the democrats are way too willing to cave to republican demands. We need a bulldog in the WH, not another pushover.
crc3 November 11th, 2016 at 14:27
We are sunk if the Dems don’t get off their a** and confront the fascists head on…
amersham1046 November 11th, 2016 at 17:37
The Dems have to start recruiting RINOs for the survival of the nation
Gary Parillo November 11th, 2016 at 20:02
Trumps financial advisory team includes Stephen Mnuchin,a former Goldman Sachs banker,and Jamie Dimon,the former ceo at J.P Morgan! How anyone can believe this billionaire elitist,who has been part of the problem all his life,will now do anything to harm wall st.,is beyond my understanding.Trump voters,you have been deceived by a wolf in sheeps clothing.I will apologize to all,if I am wrong,but within one year you will will realize what you have done to our country.It is now too Gd late!