The Trump Administration's First Gifts to Wall Street - by John Light

(Image by 401(K) 2013)   Details   DMCA

'There’s nobody better to tell me about Dodd-Frank than Jamie,” Trump said at a meeting with JP Morgan CEO Jamie Dimon.“I have so many people, friends of mine, that have nice businesses and they can’t borrow money… because of the rules and regulations and Dodd-Frank.” 'Trump’s assertion that businesses can’t get credit is -- as economist Dean Baker notes -- not reflected by actual surveys conducted by business groups. The regulatory rollback is poised to move forward, championed by the financial industry alumni in Trump’s Cabinet and the current financial titans who so closely have Trump’s ear. What’s clear is that as the deregulatory process moves forward, the fox is guarding the henhouse. Despite his populist campaign rhetoric, Trump is listening to Wall Street titans.When it comes to regulating the banks, he believes there is “nobody better” to consult than the bankers themselves.'