Trump is blowing everything up. He wants 0% interest rates while he spends like a drunken sailor. His deregulation's are going to ruin our water supply, kill off endangered species. While his tariffs are killing the farmers & he's put manufacturing in a recession.
The Finance 202: Trump's Wall Street rule rollback raises 'too big to fail' alarms
By Tory Newmyer
September 16 at 7:26 AM
Eleven years after the Lehman Brothers collapse precipitated the worst financial crisis since the Great Depression, “too big to fail” financial institutions are alive, well, and — thanks to Trump-era deregulation — getting more dangerous.
That’s the view financial watchdog Better Markets lays out in a new report, and it’s one shared by many of the former regulators who helped write the post-crisis Wall Street rulebook.
“The most dangerous systemic and moral hazard risks in the financial system from [too big to fail] have been increased — some significantly — and the overall resilience of the financial system in the US and globally has been reduced,” Better Markets president Dennis Kelleher writes in the report, which he is presenting today at a workshop at the New York Fed.
Kelleher, whose nonprofit group advocates tougher restrictions on the indusry, points to a slew of moves by Trump officials to ease strictures on the industry: Weakening capital requirements for big banks; watering down the stress test and living will requirements they face; allowing more risky trading; relaxing enforcement; and rolling back consumer protections, among others — and those public moves are just the “tip of the deregulatory iceberg.”
more:
http://www.washingtonpost.com/news/powerpost/paloma/the-finance-202/2019/09/16/the-finance-202-trump-s-wall-street-rule-rollback-raises-too-big-to-fail-alarms/5d7edf3488e0fa7bb93a8b6b/
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