Pres. Trump wants to erase The Dodd Frank Act. Its too restrictive. The law was supposed to prevent big banks from getting ” too big to fail ” like in 2008 when we had to bail them out. Remember, the big banks were about to fall and with them would go the US economy not to mention the world. So we helped the banks back up. Dodd Frank was written to stop them from doing things that were legal but never should have been. I agree the banks being 40% bigger today is a huge problem. Dodd Frank is a failure but not because it’s too restrictive but because its too lame. The president and his advisors, ex-CEOs from Goldman Sachs say too much restriction in the Dodd Frank law caused the big banks to grow like weeds. That doesn’t even make sense
Pres. Trump says so many of his friends can’t get bank loans to make “their great businesses “. That isn’t even true the billion and millionaire class aren’t having any trouble getting loans (look it up. Its a lie ). Small business loans are hard to get. That’s true because most small bussinesses fail in the first year. How are you going to open an independent anything and compete with the big guys. If there’s a Wallmart, Tacobell and Home depot in your town you cant open a grocery store, flower shop, lumber shop, installation bussiness, a meat market, pharmacy etc. Hell, Wallmart sells eye-glasses and wants to open a funeral coffin department. Your crazy to put all your saving or get a loan to open a shop. Online, service or consulting are the only vestiges for new small bussinesses. Investments in yourself are good. Go back to school become really good at something. That’s not just my opinion.
President Trump wants to protect shadow banks from regulations.
Shadow banks-Banks that can invest how, where, with who ever with no transparency to the government or anyone else. Can you imagine if you started a business and told the government including the IRS, ” I’m gonna do what ever I want. I don’t have to have my records open. It’s not your bee’s wax what Im selling and to who Im selling it to “. That’s what would be called a criminal bussiness and you would go to jail.
The president is deeply concerned with invetment firms.
The fudiciary Rule. The rule that protects you from being over charged for every little transaction you make to manage your investments. The Trumper’s say you dont need protection. What’s worse than that is they want it to be legal for the investment firms to sell you what ever they want. Your money is secondary to their profit. So Edward Jones and the like can use your money to make money for themselves first. Let me repeat, YOUR own money and you dont come first!! That’s a sucker’s game! Can you imagine if long ago we were fooled into making social security into a private 401k kind of deal. This has been the republicans dream for at least 20 years. If W. Bush was able to get that SSI privatized and boy did he try, we’d be stuck like chuck…..stuck Chuck who’s old and broke.
Let the Monopolies roll in and the stealing begin. We use to have a hands tied sheriff now the sheriffs a thug, con artist. Here come the invisable hammers.
Fun fact: Monopoly is a game a women economist invented to demonstrate how monopolies develop and how they screw up the whole economy . Remember, how you start out and then if you made a wrong move and or were unlucky down you go and slowly ever else goes broke too. You know that sinking feeling when you’ve gotten too broke to get back up and you know it. You get like you can’t buy anything anymore. You can’t stop eating chips and you start to feel like a loser?. You just seem to go to jail a lot and there is one maybe two players holding all the money and its usually the bank. This is what happens to capitalism when there isn’t any regulations ( unfettered capitalizm ) everything slows down, opportunities disappear. It all turns into a monopoly. That is what happens to us. Just change the property and building names on the board to Wells Fargo and Wallmart ect. Put some po po cars rolling around. Add a few modern day touches we can understand. Put in a jail card that says “if this is your third jail card and you have less than 2 pay checks in hand turn your broke ass in. We gonna bust a cap in your ass and split your cabbage!!! Right now bitch!!!. Move slow you a bad hombre!!! “.
The Mexican from Mars