Macroscope | Trump extends the swamp by drowning regulation
The new president has filled his cabinet with generals, gazillionaires and Goldman Sach’s castoffs who have a religious zeal to repeal the Dodd Frank
It is better to stay quiet and have people wondering if you are a chump than to open your mouth and prove it. Trump has proved that he is a chump.
Newly elected politicians should pursue their policies once in power. A bar room bully who loves to rant is naturally going to take aim at the things that bug him most. This is bad politics. Not smart. Politically naive. You do not take on contentious issues that are peripheral to what you want to accomplish. Even as president, you must use your limited ammunition with care.
Controversy builds opposition and opposition builds enemies. And your enemies are not those who oppose you – they sit right behind you.
Senior Republicans will clear out Trump if they feel that he will lose them the mid-terms, just a short 18 months away. Presidents never stop campaigning.
President Trump has already signed several executive orders to repeal regulation. His latest great wheeze is to repeal Dodd Frank, the law that was intended to make clients safe from banks – and banks safe from themselves.
President Trump has already signed several executive orders to repeal regulation. His latest great wheeze is to repeal Dodd Frank, the law that was intended to make clients safe from banks – and banks safe from themselves
It further limits banks punting with ordinary client money on illiquid derivative investments. It was enacted for good reason but in a rush after the global financial crisis and, hardly surprisingly, has built serious enemies among bankers.