"There is nobody better to tell me about Dodd-Frank than [JP Morgan C.E.O.] Jamie [Dimon]. So he has to tell me about it, but we expect to be cutting a lot from Dodd-Frank because, frankly, I have so many people, friends of mine, that have nice businesses, they can’t borrow money,”Dodd-Frank wasn't put into place so that our Grifter-in-Chief and his buddies could rake in more money. It was enacted to provide some protection for the American people from rapacious thieves like Dimon and other friends of Trump.
Remember back during the campaign when Trump was lambasting Hillary for being friends with Wall Street? No doubt Spicer the Liar and Lying Conway are stuffing that down the memory hole as fast as they can.
Trump also scrapped the "fiduciary duty rule", which required financial planners and brokers to act in the best interests of their clients, not just their own wallets.
And the Grift goes on....
I suppose the reason they want to get rid of the rule that says, "Don't cheat your clients" is that they want to cheat their clients?
ReplyDeleteI just hope they haven't figured out a way to get filthy rich by crashing the economy again, because if they have, now they can.
ReplyDelete-Doug in Oakland