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.
Yeah, nothing bad happened when the banks got deregulated. I don’t see anything going wrong this time either.
Yeah, it isn’t like banks were doing all kinds of terrible stuff that lead to the regulations or anything.
- Banks do completely irresponsible things that lead to economic meltdown.
- New regulations are introduced to prevent that from happening again.
- Banks buy politicians that scrap regulations in the name of the “free market”.
- Banks cause economic meltdown again.
- Rinse and repeat.
You forgot the government bailout after step 1.
They lose billions of dollars of other people’s money over night. Mostly working class people who can’t afford to lose it.
Banks get bailed out by the government, keep the money and pass the costs on to the consumer.
Working class people pay for the loss, pay the taxes to cover the loss, and never see a dime returned.
Working class people are chastised for wanting hand outs as they struggle to afford basic necessities, even in 6 figure incomes.
You can replace banks with “companies”, and you can replace economic meltdown with “disasters” and it applies to everything.
The Reagan era and conservative think tanks have created a political plan to ensure this cycle and that corporations always surface, even if it means stepping on the lives of millions of Americans.
To people that think capitalism under Biden and capitalism under Trump are the same, it’s not. It’s a choice between regulated capitalism and free for all capitalism.
I wouldn’t describe capitalism under Biden as regulated but it’s certainly more regulated than MAGA capitalism. 😂
Yeah my partner got a cold-call from a scammy company with nothing but terrible reviews and people being scammed out of their SSI/SSDI by this company.
The company is literally endorsed by and partnered with the Social Security Administration and literally all the reviews are about how they lie to you and say you can keep your benefits and then suddenly your benefits are cut.
God if this is “regulated” capitalism then I am fucking Mickey Mouse.
A partially regulated capitalism that works for the ultra wealthy, and a less partially regulated capitalism that works really hard for the ultra wealthy seem like two rungs on the same ladder, and we’re all at the bottom.
I’m not saying red and blue are identical, they’re not. But from down here the difference between them where they meet isn’t all that clear and everything looks like shades of purple.
How do you move the Overton window? By making sure that they can’t lose to the free for all, no regulation GOP. Then Dems can do more. (Besides that I don’t share your view, you’re pretty much a disguised ‘both side same’ BS.)
By becoming the unhinged leftist they’re saying you are.
Decades of settling for the lesser of two evils put us exactly where we are. Continuing to do the same isn’t going to magically move it back.
Sigh. Because Republicans still win. You can’t move policy left when Republicans still win. And/or have a chance of winning. This is easy. So how do you make sure they don’t win? By voting. JFC this is easy.
“vote for the guy you don’t like, otherwise the guy I don’t like will win.”
Y’all absolutely refuse to adopt policies that are more attractive to left leaning people and have the fucking audacity to tell me I need to vote for your guy?
Demand progressive action, loudly. Then we can talk.
Demand and then vote. JFC. Move the Overton window. Otherwise you’re just an angry old man yelling at a cloud. Ciao.
*Forgot to say you really did expose yourself as “both sides” bs too.
Because making the wealthy more money is exactly what our economy needs!
Draining the swamp
Well, if the swamp you’re referring to is poor people… that’s exactly what’s happening.
That was the joke, yes. Though I guess it was unclear lol
The “I got rich by cheating, so I’m gonna make it easier for everyone to cheat” approach…
Well, not everyone. Only other worthy people. You know, white, rich, male, etc.
More like the “I owe the wrong people debts and have to pay them somehow” strategy.
His eastern European oligarch bros are tired of all the trouble when all they want to do is launder a little money.
Time for another society ending financial crash I guess.
Wheat futures and coca cola stocks it is!
And free the people from breathable air, drinkable water, job protections and more!
If Trump wins he’ll attempt to implement things that will scar this country worse than Reagan
Unregulated capitalism is a major problem so Trump probably won’t win.
