Posted on 05/01/2017 4:48:53 PM PDT by huldah1776
[txt on image] Trump: Considering Rewrite or Elimination of Dodd-Frank
President Trump entertained the idea of breaking up big banks Monday, sending major Wall Street stocks lower.
Trump suggested that he is considering reinstating some form of Glass-Steagall, the repealed law that for decades mandated a separation between commercial and investment banks.
"There's some people that want to go back to the old system, right? So we're going to look at that," Trump said when asked about the policy by Bloomberg.
(Excerpt) Read more at washingtonexaminer.com ...
About time.
Privatized “bank” gains and socialized “bank” losses are bad for Americans.
Goldman Sachs is a investment betting house for big money players. That’s fine. What they shouldn’t get is insurance against loss paid for by me.
Those who are so inclined might want to pray for the safety of President Trump, his family and cabinet.
Yes yes yes yes. We need glass steagle. Taxpayers guarantee deposits in commercial banks. They’re put at unacceptable risk when the bank is allowed to invest those funds in risky stocks and worse.
Infrastructure banks that are part of the "banking system" should be separate from banks that cater to investments and potential speculation. If your investment banker makes a bad investment on your behalf, that should not affect my ability to cash a check or make a car payment.
YES!
Then they have a choice: They are either subject to Glass-Stegall or they can break up so they are no longer big enough to be subject to it.
>>>Yes yes yes yes. We need glass steagle. Taxpayers guarantee deposits in commercial banks.
How about instead of adding more regulations, we get rid of the FDIC and let the free market work. Depositor beware.
While he’s at it, he should break up Google, Facebook, and the other massive, globo-fascist tech companies.
Yep. For a hint of what he is up against, I can only recommend the FX network series “Taboo”. Can you spell British East India Company?
Yes, it’s actually very scary.
I personally believe that would be a mistake. People (and the economy) are benefitted by having somewhere they can save safely. People are thus encouraged to thrift ( which benefits them and helps pool funds for business and other investments). And needless casualties are avoided too. I view deposit insurance as a valuable part of our economic system.
But couldn’t it be provided by the free market? You could purchase insurance from a third party that would cover your deposits in the event of a bank failure.
theoretically probably yes it could be provided by the free market but the FDIC has worked pretty well so far anyway, and we already have it and it (in my opinion, anyway) does miniscule harm to economic theory ... i view it rather like a bit of helpful infrastructure for our economic system, like government-built roads (yes, they too...and in the past often were...supplied by the private sector..but we didn’t get as many that way and thusly the govt doing it, for all the inefficiencies, provides discernable benefits for the economy and for us all)...compromises that are relatively small, imho, and the benefits are palpable.
i am in favor of free market solutions for most things, tho.
i openly admit to the compromises I do make, or am willing to accept. I do NOT accept Obamacare, I do NOT accept “free” government-run university education (indoctrination), I do NOT accept “free” govt-funded abortions, I do NOT accept a whole lot of “free” or “Govt” provided things.
I do still think that FDIC is a worthwhile compromise, imho, while acknowledging it is a compromise, yes.
Private insurers can go bankrupt just as easily as private banks, anyway.
Unless we separate retail banking from the speculative hedge fund side of these banks we risk multiple 2008 type bailouts and recessions.
Agreed. Strongly agreed.
Its starting to look like the insiders of both parties are castrating Trump.
Trump is on record that he thinks Amazon has anti-trust issues. They dominate e-commerce and Cloud services.
Trump has done a lot of thinking and talking about what he was gonna do,now he has caved to the left wing kooks,but don’t worry I will pay you back for that hamburger next tuesday
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