A second Trump White House would seek to sharply reduce the power of U.S. financial regulators, according to a review of public documents and interviews with people allied with the former president.
In the wake of the worst economic crisis since the Great Depression, Congress dramatically expanded the U.S. government’s oversight of the financial industry to prevent a repeat of the 2008 global banking meltdown.
Donald Trump would likely renew his efforts to scale back those reforms, if elected, as well as pare protections for small-scale investors and borrowers, and allow companies to raise money with less scrutiny, according to the interviews and proposals from groups positioned to influence a new conservative administration. Reuters spoke with, among others, about a dozen people who have provided advice or been consulted by Trump or his allies.
They lose billions of dollars of other people’s money over night. Mostly working class people who can’t afford to lose it.
Banks get bailed out by the government, keep the money and pass the costs on to the consumer.
Working class people pay for the loss, pay the taxes to cover the loss, and never see a dime returned.
Working class people are chastised for wanting hand outs as they struggle to afford basic necessities, even in 6 figure incomes.