Trump To Erase Post-2008 Bank Regulations

Al Drago, The New York Times
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The president had praise for Jamie Dimon, whose bank, JPMorgan Chase, was often a target of regulatory actions by the Obama administration.

The meeting underscored the degree to which the architects of Mr. Trump’s economic strategy are now some of the very people he lambasted in his campaign, which ended with a commercial that described “a global power structure that is responsible for the economic decisions that have robbed our working class, stripped our country of its wealth and put that money into the pockets of a handful of large corporations.”

The advertisement included an image of the chief executive of Goldman Sachs, which has become a virtual feeder for top Trump administration officials. Steven Mnuchin, his nominee for Treasury secretary, is a former Goldman Sachs trader and a hedge fund manager. Gary Cohn, the chairman of his Council of Economic Advisers, was Goldman’s No. 2 executive, and Stephen K. Bannon, Mr. Trump’s chief strategist, is a former Goldman banker.

The president’s actions came just hours after congressional Republicans repealed an unrelated Dodd-Frank rule, a sign that Mr. Trump will have the support he needs on Capitol Hill to eviscerate a law he has called “a disaster,” and promised to do “a big number” to reshape.

read more at nytimes.com

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About Chuck Berry

Chuck comes from a lineage of journalism. He has written for some of the webs most popular news sites. He enjoys spending time outdoors, bull riding, and collecting old vinyl records. Roll Tide!

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