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.

  • Flying Squid@lemmy.world
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    3 months ago

    Yeah, nothing bad happened when the banks got deregulated. I don’t see anything going wrong this time either.

    • snooggums@midwest.social
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      3 months ago

      Yeah, it isn’t like banks were doing all kinds of terrible stuff that lead to the regulations or anything.