A Very Bad Week for Trump...

From "I might break up the banks" and denouncing Goldman Sachs.

To hiring 6 Goldman Sachs alumni to fill key roles on his staff and now praising the passage of a bill that rolls back the regulatory structure even further from the place it was that got us into the 2008 Recession.

MAGA!

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To hiring 6 Goldman Sachs alumni to fill key roles on his staff and now praising the passage of a bill that rolls back the regulatory structure even further from the place it was that got us into the 2008 Recession.

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Thanks for self identifying as a shill.

2 quick questions if I may.

Are you of the opinion these people were unqualified solely due to their former employer or do you have any other basis for objection?

What is your specific issue with new proposed financial regulation?


Just trying to gauge if you have well informed opinions or are simply a troll.

Doing work...

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Thanks for self identifying as a shill.

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Just pointing out facts.

Or are you denying those facts?

Tell me what this bill does to make good on Trumps campaign promises to end Goldman Sachs and Wall Street's rampant murdering of the American people as he so eloquently phrased it?

You all cheer on your cult of personality reflexively without even knowing what is being cheered on. It was only two days ago the thread about why you support Trump was around here and a good portion of people said his tough stance on the banks. This is the opposite of that.

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What got us into trouble with the 2008 Recession was banks being required to give loans on color and quotas, instead of credit worthiness. Period!

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No, not really.

But explain to me what this law does to ensure that never happens again?

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let everyone follow the shiny ball while the Trumpster goes about business

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4D chess my friend

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2 quick questions if I may.

Are you of the opinion these people were unqualified solely due to their former employer or do you have any other basis for objection?

What is your specific issue with new proposed financial regulation?

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1.) Well these are some of the people that couldn't even do basic math right on their proposed budget when they double counted their fantasy land tax cut revenue generation. But mostly that is just to point out how blatantly hypocritical the Trump administration has been from campaign to governorship and how unconcerned his followers are at actually holding Trump accountable to his promises.

2.) I'll give you one specific since this is a 530 page bill that rolls back regulation and cuts funding for regulation all over the financial industry. Raising the risk of bubbles and risk taking above and beyond what existed leading up to 2008. While still leaving in place banks that have so much systemic risk they can willingly gamble with our economy because they know taxpayers will have to bail out their transgressions. Let's talk the Orderly Liquidation Authority. What it's creation did was in the case of systemic risk banks that go belly up - meaning banks that are so big and interconnected that their failure threatens to create a chain reaction that can crash the economy like Lehman - It allows what was not allowed with Lehman, which was for the FDIC to swiftly and orderly take over the bank and make sure it doesn't spread to other parts of the economy through its web of interconnected partners. Allowing a formal standard of investigations and the ability to fire management that allowed such behavior to happen. Creating a disincentive to risky behavior. It also ensured that this process would not be paid for by the taxpayers money, instead forcing the stakeholders intertwined with the systemically risky bank to pick up the tab. Instead of asking the tax payer to pay 8 trillion dollars to those banks after the damage from non-action takes root and hands that money free and clear of any strings in order to prop up those institutions. Which allowed those same institutions that crashed the economy to pass out huge bonus checks to CEO's and upper management that were instrumental in stoking the fires of the crisis.

What this bill does is return us back to a situation where if the next crisis happens. The next Lehman scenario pops up, there is no process in place to attempt to slow or stop the disease spreading except to go back to the same situation as happened under Bush, where you must wait on congress in the midst of financial panic, as costly damage continues to spread every moment, to hastily pass funding to prop up the banks as the problem spreads and threatens the wider economy and with no clear way to recoup that taxpayer spending. It's basically a license to gamble again with fewer consequences and more assurances that your indiscretions will be harder to punish. Wrapped in a bill that does nothing to reduce the systemic risk problem we have in the financial sector.

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t got us into trouble with the 2008 Recession was banks being required to give loans on color and quotas, instead of credit worthiness. Period!

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IOwning a home is a fundamental right in the USA!!

Signed,
Democrats losers with bad credit