A real man of the people
If you enjoyed the 2008 financial system crash you’re going to love a second Trump term:
A second Trump White House would seek to sharply reduce the power of U.S. financial regulators, according to a review of public documents and interviews with people allied with the former president.
In the wake of the worst economic crisis since the Great Depression, Congress dramatically expanded the U.S. government’s oversight of the financial industry to prevent a repeat of the 2008 global banking meltdown.
Donald Trump would likely renew his efforts to scale back those reforms, if elected, as well as pare protections for small-scale investors and borrowers, and allow companies to raise money with less scrutiny, according to the interviews and proposals from groups positioned to influence a new conservative administration. Reuters spoke with, among others, about a dozen people who have provided advice or been consulted by Trump or his allies.
The Republican Party’s presumptive nominee has not announced a formal policy staff or released detailed positions on how he would regulate Wall Street, aside from short videos and snippets in campaign appearances.
But, the sources told Reuters, a constellation of experts and Trump allies are pitching regulatory rewrites, identifying potential staff and floating ideas on TV, in op-eds and directly to Trump at his Mar-a-Lago Club in Palm Beach, Florida.
This would probably be happening no matter what Republican was running. It’s been just long enough since the last time that the Wall St. players are restless to get back to regular order. Sure they’re making massive profits right now but there’s never enough for greedheads.
However, Trump is in need of money very badly so they have the means to extract some extravagant promises from him. His own publicly traded company is tanking every day and he no doubt wants some allies in the markets just in case not to mention there are signs that his venture is riddled with criminality so loosening the laws only makes sense.