Regulations That Kept Wall Street and Banks in Check Being Rolled Back

From The Washington Post.

The House on Thursday voted to free Wall Street from many of the strict constraints put in place after the 2008 financial crisis, the opening salvo in what is likely to be a protracted battle over deregulation of the powerful banking industry.

Big banks, from Goldman Sachs to Bank of America, would face less scrutiny and other large financial institutions, such as insurance giant MetLife, could escape tougher rules all together under the legislation approved along party lines.

The Trump administration backed the bill as part of a multi-pronged effort to ease banking regulations in order to spur economic growth. The legislation is likely to face stiff resistance in the Senate but it provides a roadmap of sorts for the policies the president plans to put in place as he appoints new regulators. Trump, who has complained about tight lending practices, has ordered three reviews of banking rules, the first of which Treasury Secretary Steven Mnuchin is set to deliver as soon as next week.

Full Story Here

Yyyyyyyyyyyyyyyeah drain that swamp, Trumpy-poo, drain it nice and good!...

OMFG have we forgotten that lesson already?

I know I sure haven't; I graduated in 2008, that was definitely not a fun time to be looking for a job, a place to live, and to be in debt.

Nothing has really been the same since, either. People were let go from jobs and now companies realize A.) people are scared to lose their jobs and B.) people will work to their own personal detriment and do the work of 1.5 people for 0.75 people's pay.

What could go wrong?

Maybe when this turns sour again, you can follow Iceland's example regarding the bankers.

This is why you don't put business interests in power. It's also why we need to step up education in this country.

Hmmm... nope, I can't think of a single thing.

On an unrelated note, I just saw this movie, The Dark Night. Have you seen it? It was pretty good. Surprised I'd never heard of it before.

Hahahahahaha. Good one. That was a pretty good joke if I may say so myself.

Yeah, Fat chance of that happening.

So have you guys realized yet that this whole "small government" argument is nothing but a scam to unburden wealthy Republican donors from taxation and regulation, or do you still claim to believe that this shit is good for the country?