Saturday, February 04, 2017

Reforming Reform

Time for real reform?
The review is supposed to "determine whether it may adversely affect the ability of Americans to gain access to retirement information and financial advice."

Trump also signed an executive order outlining "core principles" in regulating the U.S. financial system, including preventing government bailouts and having a goal to "rationalize the Federal financial regulatory framework."

The Treasury secretary has to report to Trump in 120 days on "the extent to which existing laws, treaties, regulations, guidance, reporting and recordkeeping requirements, and other Government policies promote the Core Principles and what actions have been taken, and are currently being taken, to promote and support the Core Principles."

The order didn't mention Dodd-Frank by name, but White House press secretary Sean Spicer labeled it "a disastrous policy that's hindering our markets, reducing the availability of credit and crippling our economy's ability to grow and create jobs."
Dodd-Frank wasn't just bad for big business, but business all around.

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