It isn't a single complete dismantling but rather a gradual review to see what should be amended. The move is driven to help facilitate small businesses secure bank loans. https://www.theatlantic.com/business/archive/2017/02/trump-dodd-frank/515646/
Oh yeah, those small businesses sure are having trouble securing bank loans... In fact, according to NFIB, about as much trouble as they had back in 2006 (based on credit availability and price element of the survey). And yes, of course, it's all for the sake of small business; the banks aren't going to get anything out of it, oh no. They're just there to help, doing god's work. You can find the data here: http://www.nfib.com/assets/SBET-December-2016.pdf
Are you an occupy Wall Street guy? You use the term 1% in a negative connotation. Is it wrong to be successful?
As we've discussed over PM, that's consistent with my experience my experience. Banks are tripping over themselves to give loans.
Are you an occupy Wall Street guy? You use the term 1% in a negative connotation. Is it wrong to be successful? ____________________________________________________________________________ Being a billionaire is not the issue. There are plenty of self made billionaires that have made their wealth through honest work and have been great philanthropists, such as Bill Gates, Warren Buffet, David Gefen & Mark Zuckerberg to name a few. Some inherit it. Than there are those that are polar opposites, usually born into wealth & power. This type uses political clout to expand their fortune not caring if they burn the general public - like Trump and some in his cabinet. The later mentioned care only about concentrating wealth and power for themselves at any means possible. Third world countries are usually like this, having a few that are extremely wealthy, state run companies, and the vast majority dirt poor. When a few own most of the assets its not a good thing - even the Koch brothers are concerned with this now.
Let us see here folks: 1) They tried to limit the powers of the ethics watchdog in the house. 2) They brought in GS Banksters. 3) They are gutting Tod-franks rules 4) They are doing away with the fiduciary rule 5) They passed a law to end a rule requiring oil and gas companies to disclose payments from the U.S. and foreign governments. 6) They dismantling the EPA rules Thanks to the basket of deplorable, I think the Washington SWAMP is getting deeper and murkier by the day!
Yeah, sure looks this way to me, based on the surveys, as well as the actual loan growth data... But who cares about that when the Donald says that he's got (imaginary) friends who can't get loans? It's gonna be really great to be a Goldman banker, again...
Any idea what this fiduciary rule change or other changes in the works might lead to in terms of US traders being able to create accounts with better-regulated offshore spot Forex brokers? Is there any hope of changes there?