It’s only a matter of time before we’re all forced to bank with BA Morgan Chase CitiFargo Sachs.
If you open an account with a minimum deposit of at least $1 million, you get a free toaster. If it’s any less than that, you’re required to buy a toaster from them.
That would never happen, because Republicans hate bailouts. You can look it up!
Ugh… and I just finally got my first stock portfolio this year.
Now I get to watch the world burn in real time.
McSally no like. The Giant Cash Heist is not going according to plan!
As she was talking to bankers, McSally focused on the latest GOP efforts to repeal the Dodd-Frank Wall Street Reform and Consumer Protection Act that regulated banks after the 2007 economic collapse. She characterized Dodd-Frank as a hindrance to banks that needs to be repealed.
“Within the public, there is often a perception that we had the financial meltdown and then Dodd-Frank was good and it was, you know, saving us from future financial meltdowns,” McSally said. “You guys are all experts in the industry and you know that’s not the truth. Really, what Dodd-Frank did, was it provided additional compliance and legislative regulations and more burdens upon you. It doesn’t actually protect the consumer anymore, it just adds more paperwork and compliance.”
This is a pretty bold view. The one thing that every industrialized country that has been through the shock of a financial system meltdown knows is that you have to have rules (laws) to allocate liability on the books
the crisis hits. Otherwise, you just live with moral hazard by assuring bankers they will be bailed out for the flimsiest of reasons.
Trump has been a huge disappointment. He was going to protect the working guy. Instead, he protects the financial barons.
Newest casino opens. Wall Street bankrolled by American accounts and backed by taxpayer money.
Dodd-Frank has prevented another ‘Great Recession’ so far… why not repeal it when it fails to do its job, not because it is doing its job?
New Rule #1: Don’t let the bankers regulate themselves.
New Rule #2: Don’t let the bank robbers police themselves.
This is one of the things that Dems need to campaign on, that the goppers are trying to undo the safeguards put in place after they created the Great Recession with their unregulated greed, and trying to get rid of Consumer Protection, that has saved taxpayers and citizens (and guests even!) billions of dollars from corporate greed and malfeasance. Who doesn’t want Consumers protected, right? Republicans, that’s who!
For those of us who understood Trump stood for money, wealth and attention and not "the people’, this is not in any way a surprise. I did however think it would take a little longer than <6 months before it reached this level.
Trump said on Twitter Friday, “Congratulations to Jeb Hensarling &
Republicans on successful House vote to repeal major parts of the 2010
Dodd-Frank financial law. GROWTH!” YAY FOR MONEY LAUNDERING!!
Fixed it
Hey, lookit at the Mar-a-Lago laundry room…!!
The desire of trump in killing Dodd-Frank if thought of visually…
What are you talking about? We’re all gonna get clobbered!
Of course he has to make those Wall Street bankers like him. Someone at Goldman Sachs told him this was how he could get loans form US banks.
What could go wrong? Do these morons have amnesia or do they just not care about our nation? We were truly on the brink of disaster and thank goodness GWB’s time in office ran out and Mr. Obama and his team stepped in and saved our faltering economy. By every metric we improved and yet the R’s want us to go back to the conditions that let us get in that precarious position. They are greedy and sick.